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Zee Entertainment‘s president and group chief technology officer Nitin Mittal has resigned as the company streamlines the vertical. The board of the company has accepted the resignation of Mittal, who was working in this role for the last two years, it added.
This announcement comes amid strategic changes in the technology and data vertical, implemented by managing director and CEO Punit Goenka, a ZEEL statement said.
“The MD & CEO has accepted the resignation of Nitin Mittal,” it added.
“Under the guidance of the Board and in line with the strategic approach undertaken by the MD and CEO, significant steps are being implemented to build a new lateral structure that lays a sharper emphasis on accountability and results,” said ZEEL.
This is the second major exit from ZEEL recently.
Last week Rahul Johri, who was President – Business of ZEEL, and heading revenue and monetisation, resigned after a stint of over three years.
Earlier this month, its Chairman R Gopalan in an investor conference said since 2020 ZEEL’s performance has been impacted due to industry-wide macro slowdown, transitory issues, and management bandwidth constraints due to merger activities.
The board has decided to closely monitor the business model and plan presented by the MD & CEO of the company, wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA.
Phantom, a Zee shareholder, says it is a separate entity and acting to protect its own commercial interests tied to the merger between Sony and Zee as approved by NCLT. Sony lawyers deny allegations and say their statements are backed by reasons. Phantom emphasised that it operates as an independent entity and has consistently acted in its self-interest to safeguard its commercial concerns.
Rahul Johri, President Revenue of Zee Entertainment Enterprises, has resigned as the company implements strategic changes. Punit Goenka, MD and CEO, will now oversee the revenue teams directly, with Ashish Sehgal, Chief Growth Officer for Ad Revenue, reporting to him. Other team members previously reporting to Johri will now report to Goenka. Johri joined Zee in 2020 after leaving BCCI. Goenka expressed gratitude for Johri’s contributions and highlighted plans to drive growth in advertisement revenue. Johri expressed appreciation for his time at Zee and aims to continue contributing to the sports and media industry.
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