ZEEL establishes new organization structure after senior employees quit

18 Apr 2024 , 11:04 AM

Zee Entertainment Enterprises Limited (ZEEL) has created a new organisational structure in which CEO Punit Goenka would take full management of major business sectors, including domestic broadcasting.

Amit Goenka, who has been in charge of the streaming business, will have direct responsibility for original content, including movies, in addition to overseeing the global broadcast business, enterprise technology, and broadcast operations and engineering. He’ll continue to report to Punit.

ZEEL, which operates four important business segments: television, digital, film, and music, has also promoted senior executives. The restructuring is consistent with the company’s goal of generating an 18-20% EBITDA margin by FY26.

Ashish Sehgal will oversee integrated ad sales for both broadcast and digital companies. In this expanded capacity, he will also report to Amit on digital business income. He will continue to report to Punit on broadcast business revenue.

Siju Prabhakaran, who now manages the South cluster of channels, will assume additional responsibility for the West cluster. Samrat Ghosh, who currently leads the channels in the East cluster, will assume additional duties overseeing the North and Premium clusters.

Ruchir Tiwari will continue to oversee the Hindi Movies cluster, while Vishnu Shankar will lead Hindi GEC and TV, as well as the FTA section.

Umesh Bansal will take over as CEO of Zee Studios once Shariq Patel steps down. Anurag Bedi will maintain his role in overseeing the music business and will focus on increasing its impact on the company’s financial performance.

The restructure follows the collapse of the merger agreement with Sony Group Corp’s India companies, as well as the departure of key executives Rahul Johri (president-business), Punit Misra (president-content), and Nitin Mittal (president-technology).

To minimise expenses, the firm has chosen to lay off 15% of its more than 4,500 employees.

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