Punit Goenka steps down as MD to focus on CEO role at ZEEL

Punit Goenka has informed the Board of Directors at ZEE Entertainment Enterprises Ltd. (ZEEL) of his decision to step down as Managing Director to focus exclusively on his role as Chief Executive Officer. He aims to concentrate on driving the company’s operational performance and profitability in alignment with the Board's direction provided during a recent meeting on November 15, 2024.

Goenka emphasized his commitment to the company’s future growth by dedicating his time to improving its core operations. His strategy involves enhancing his presence in key markets to better understand consumer and advertiser needs. 

To further strengthen the leadership team, the Nomination and Remuneration Committee has promoted Mukund Galgali to Deputy Chief Executive Officer, in addition to his responsibilities as Chief Financial Officer. Galgali will report directly to Goenka, and the appointment is effective immediately. The Board has also advised the management to appoint a Deputy CFO to bolster the company’s management structure.

Additionally, the Board is reviewing ZEEL’s HR policies, processes, and salary structures, which were adjusted during the recent merger integration process.