Zee's Restructuring Gets Board's Backing, Punit Goenka To Lead Key Verticals
The Board of Directors at ZEE Entertainment Enterprises has given the green light to the restructured organisational framework presented by MD & CEO, Punit Goenka earlier this month. This aligns with his strategic vision aimed at boosting performance and profitability throughout the company.
With the Board's direction, the organisational structure prioritises speed and agility to foster collaboration and capitalise on synergies among key business segments, namely Broadcast, Digital, Movies and Music. The streamlined structure also focuses on promoting key team members across various businesses.
The new structure is effective immediately. In the approved structure by the Board, Goenka will directly oversee critical business verticals, including the domestic broadcast business.
Siju Prabhakaran, who has led the South cluster of channels successfully, will now oversee the West cluster as well, bolstering performance in these markets. Similarly, Samrat Ghosh, who has led the East cluster, will also take charge of the North & Premium cluster.
Ruchir Tiwari will maintain leadership of the Hindi Movies cluster, prioritising quality entertainment, while Vishnu Shankar will continue to lead &TV and the FTA segment.
Ashish Sehgal will assume responsibility for integrated advertisement sales across broadcast and digital platforms, aiming to maximise value for advertisers with a strong focus on profitability. Additionally, for digital business revenue, Sehgal will report to Amit Goenka, while continuing to report to Goenka for broadcast business revenue.
Drawing on his deep understanding of the rapidly evolving digital entertainment landscape, Amit Goenka will maintain leadership of the company's digital business, overseeing original content, including movies. Additionally, he will take on responsibility for the International broadcast business, enterprise technology, and broadcast operations and engineering, leveraging synergies between business segments to drive growth. He will continue to report directly to the MD & CEO.
Umesh Bansal, leveraging his domain expertise in content production, strategy, movie acquisition and syndication, will lead the movies business for the company, reporting to the MD & CEO.
Anurag Bedi will continue to lead the music business, leveraging his vast expertise in music acquisition and publishing to enhance the vertical's contribution to the company's bottom line. He will also report to Goenka. All corporate functions will continue to report directly to the MD & CEO as well.
R. Gopalan, Chairman, ZEE said, “The Board has reviewed and approved the lean organisation structure proposed by the MD & CEO, which aims at streamlining the organisation and improving efficiencies across the business. The strong and capable set of leaders identified for each core business segment in the lateral structure, are highly reflective of the company’s deep bench strength and ensure that the company remains well-positioned for the future. We are confident that a lean team under the leadership of Punit will enable the company to achieve its set goals and priorities for the future, further generating higher value for the shareholders.”
Punit Goenka, MD & CEO, ZEE said, “I remain grateful to the Board for recognising our efforts to arrive at a streamlined organisation structure. In line with our approach towards maintaining a sharp focus on profitability, the new structure encompasses a more resilient team for the organisation to ensure agility and collaboration. Through this restructuring exercise, our aim has been to build an independent and enterprising team led by an experienced set of leaders to drive the company forward. I look forward to working closely with the teams to chart robust growth and achieve our strategic priorities for the company.”
