Mukund Galgali appointed acting CFO of Zee Entertainment

19 Jun 2024 , 01:32 PM

Zee Entertainment Enterprises Limited (ZEEL) has appointed Mukund Galgali as the acting Chief Financial Officer (CFO). This appointment is effective from June 19, 2024. Mukund Galgali has been with the ZEE group for over 17 years, leading the Commercial & Strategic Initiatives. 

The current CFO, Rohit Kumar Gupta, is stepping down. Gupta is leaving his position due to personal reasons.

At the time of writing on June 19, 2024 at 1:27 pm, shares of ZEEL is trading at ₹156.13 which is a 2.98% growth than the previous close.

Galgali is a Chartered Accountant and Company Secretary with over 27 years of global financial and corporate leadership experience.

As part of the leadership team, Galgali has provided strategic consulting on business planning, performance, regulatory and tax implications, process innovations, and management controls to enhance business efficiency and shareholder value.

The company recently announced cost-cutting measures, including reducing its workforce by 15% and restructuring its leadership.

In the recent fourth quarter, Zee reported a profit of ₹13.35 Crore, reversing a loss from the previous year, due to strong advertising demand and reduced expenses. Domestic advertising revenue for the quarter increased by nearly 11% year-on-year, driven by a recovering advertising environment and increased spending by FMCG clients.

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