Punit Goenka withdraws consent for reappointment for ZEEL MD in upcoming AGM
The Hindu
ZEE Entertainment CEO Punit Goenka resigns as Managing Director, withdraws reappointment, retains CEO position.
ZEE Entertainment CEO Punit Goenka, who resigned from the post of Managing Director last week, has also withdrawn himself from reappointment for the post in the coming AGM, according to an exchange filing.
While sharing Goenka’s resignation letter to exchanges on Saturday (November 23, 2024), Zee Entertainment Enterprises Ltd (ZEEL) said he is "withdrawing his consent for his re-appointment as Managing Director of the company as proposed in the Notice of the ensuing Annual General Meeting”.
Mr. Goenka, however, is retaining the post of CEO.
Earlier on October 18, 2024, the ZEEL board approved the proposal for Goenka's reappointment for a five-year term, effective from January 1, 2025, to December 31, 2029. Goenka's present tenure as Managing Director & CEO of the company was scheduled to finish at the 2024-end.
Goenka's re-appointment was subject to approval from the shareholders, in the coming AGM, which is scheduled to be held on November 28. However, on November 18 Punit Goenka, son of media baron Subhash Chandra, resigned as the Managing Director of Zee Entertainment.
ZEEL last week informed exchanges that its board accepted the resignation of Punit Goenka as Managing Director of the company and appointed him as CEO.
"With this step, he intends to dedicate his time entirely towards the future of the Company by enhancing its performance and profitability levels in line with the direction given by the Board/Nomination and Remuneration Committee in its meeting dated 15th November 2024," ZEEL said.
Gautam Adani indicted for fraud in U.S. over alleged bribery scheme, Adani Group denies allegations.
Prosecute Gautam Adani or extradite him to U.S., demands Andhra Pradesh Congress chief Y.S. Sharmila
APCC president criticizes PM Modi for protecting corrupt businessman Adani, demands prosecution or extradition to U.S.
UK Prime Minister Keir Starmer announces relaunch of Free Trade Agreement talks with India, aiming to boost bilateral trade.
India's forex reserves hit record low due to U.S. election impact, central bank intervention, and rupee depreciation.
Central Bank of India approved foray into insurance business with Generali group, expanding joint ventures in financial services.
New telecom cyber security rules empower government to seek data, outline obligations, and require reporting of security incidents.
Sensex surges 2.54% to 79,000 level driven by value buying, domestic investors, and strong U.S. markets, all 30 firms green.
Rupee trading in narrow range as U.S. dollar strengthens, Brent oil rises amid Ukraine-Russia conflict, FIIs sell equities.
Billionaire Gautam Adani indicted in U.S. for fraud and bribery, facing charges of defrauding American investors.
Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to develop a built-to-suit facility for the AME program that will feature modern classrooms, well-equipped laboratories for practical training and a team of qualified trainers.
Zepto raises $350 million in largest domestic fundraise in India, backed by leading financial institutions and notable individuals.