Rahul Johri resigns from ZEE Entertainment, Punit Goenka implements changes in revenue vertical of the broadcast business

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Rahul Johri resigns from ZEE Entertainment, Punit Goenka implements changes in revenue vertical of the broadcast business
Rahul Johri resigns from ZEE Entertainment, Punit Goenka implements changes in revenue vertical of the broadcast business

Prior to joining ZEEL, Johri oversaw Discovery’s South Asia operations and served as the inaugural CEO of the Board of Control for Cricket in India (BCCI).

Rahul Johri’s resignation from Zee Entertainment Enterprise Ltd. and modifications to the broadcast business’s revenue vertical, spearheaded by MD and CEO Punit Goenka, were revealed on Saturday.

According to a statement from the firm, Johri, who oversaw income and monetisation while serving as President – Business of Zee Entertainment Enterprise Ltd. (ZEEL), has quit after more than three years.

It further stated that Johri’s resignation has been accepted by the corporation.

Additionally, ZEEL disclosed planned adjustments to the broadcast industry’s revenue vertical.

According to ZEEL, Ashish Sehgal, Chief Growth Officer, Advertisement Revenue, will now answer directly to the MD & CEO.

“This announcement is the first step towards streamlining the organization in order to optimize resource allocation and enhance productivity,” it said.

Prior to joining ZEEL, Johri oversaw Discovery’s South Asia operations and served as the inaugural CEO of the Board of Control for Cricket in India (BCCI).

Goenka said: “With his rich expertise and experience, Rahul has added immense value to the organization. I wish him all the success in his future endeavours. I am most certain that with his passion for the sports and media business; he will continue to contribute to the industry at large.”

In order to optimize value for the advertisers, Sehgal will now collaborate directly with the MD and CEO.

“Since the MD & CEO will be directly working with the revenue teams, all other reportees of Johri will report into the office of Punit Goenka,” it said.

ZEEL Chairman R Gopalan stated earlier this week at an investment conference that the company’s performance has been affected since 2020 by a macro downturn in the industry as a whole, temporary problems, and management bandwidth limitations brought on by merger activity.

The board has made the decision to closely monitor the business model and plan that the company’s MD and CEO have presented. In these presentations, he has established a roadmap for enhancing each organization’s performance and efficiency in order to increase EBITDA.

ZEEL said last month that its consolidated total income for the third quarter that concluded in December 2023 decreased by 2.36 percent to Rs 2,073.36 crore.

A merger between Zee and Sony Pictures Network India was previously announced, with the potential to establish a USD 10.5 billion media company in the nation.

But the Sony Group called it off in January, and now arbitration and litigation are entangling both parties.

Gopalan stated that operations and business have been affected by intense and protracted merger-related activity. The company has since made a number of incremental initiatives to safeguard all stakeholders and increase its inherent value throughout this phase.

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