Tuesday, Apr 30 2024 | Time 18:20 Hrs(IST)
image
Business EconomyPosted at: Apr 17 2024 6:00PM


ZEE new org structure – Broadcast, Digital, Movies & Music key Biz verticles

New Delhi, Apr 17 (UNI) A day after withdrawing merger implementation application from NCLT, ZEE Entertainment on Wednesday announced new structure for the organization across 4 key business areas – Broadcast, Digital, Movies and Music with a view to enhance performance and profitability.
ZEE Entertainment Enterprises Ltd.’s Board of Directors, today approved the streamlined organization structure proposed by the MD & CEO, Mr. Punit Goenka, which is in line with his strategic plan focused on enhancing the performance and profitability levels across the Company.
Under the guidance of the Board, the organization structure has been designed with speed and agility at the forefront, in order to nurture collaboration and leverage synergies amongst the core business segments which include Broadcast, Digital, Movies and Music, the company said in a statement.
Punit Goenka, MD & CEO will assume direct charge of the critical business verticals including the Domestic Broadcast Business.
Frugality, Optimization and a Sharp Focus on Quality Content are the three key tenets of the plan implemented by the management, and the lean organization design is in line with this approach, the company said.
Leveraging his deep understanding of the rapidly evolving digital entertainment landscape, Mr. Amit Goenka will continue to lead the Digital Business for the Company, taking direct charge of original content (including movies).
He will assume additional charge of the International Broadcast Business, Enterprise Technology and Broadcast Operations & Engineering, leveraging synergies between the business segments to drive higher growth. In this role, he will continue to report to the MD & CEO.
Having a domain expertise and understanding of content production, strategy, movies acquisition and syndication, Mr. Umesh Bansal will lead the Movies business for the Company and he will also report to the MD & CEO.
While the Music Business will be headed by Mr Anurag Bedi, the company said adding “all Corporate Functions” will continue to report to the MD & CEO. The new structure is effective immediately.
Commenting on the development, Mr. R. Gopalan, Chairman, ZEE said, “The Board has reviewed and approved the lean organization structure proposed by the MD & CEO, which aims at streamlining the organization 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,” he added.
Mr Punit Goenka, MD & CEO said, “I remain grateful to the Board for recognizing our efforts to arrive at a streamlined organization structure. In line with our approach towards maintaining a sharp focus on profitability, the new structure encompasses a more resilient team for the organization 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,” he added.
UNI SKB CS
Please log in to get detailed story.
Tags: #ZEE new org structure – Broadcast# Digital# Movies & Music key Biz verticles
More News

RITES gets order over Rs 915 cr to supply passenger carriages to Bangladesh Railways

30 Apr 2024 | 5:21 PM

New Delhi, Apr 30 (UNI) Public sector infrastructure firm Rail India Technical and Economic Service (RITES) under the Ministry of Railways has secured an order for over USD 111 million (about Rs 915 crore) from Bangladesh Railways to supply passenger carriages.

see more..

Hyd: Baskin Robbins launches latest product range for summer season

30 Apr 2024 | 5:19 PM

Hyderabad, April 30 (UNI) Baskin Robbins, India’s largest ice-cream brand, on Tuesday announced the launch of its latest product range for the summer season, catering to the growing trend of snacking, with a focus on the South Indian market.

see more..

India’s aluminium industry will need $29 billion capex to go net-zero: Report

30 Apr 2024 | 5:10 PM

New Delhi, April 30 (UNI) The Indian aluminium industry would require an additional capital expenditure (capex) of nearly Rs 2.2 lakh crore ($29 billion) to achieve net zero carbon emissions, said a report released by Council on Energy, Environment and Water (CEEW) on Tuesday.

see more..

REC net up 34 pc in Q4; Full year dividend at Rs 16 per share

30 Apr 2024 | 4:54 PM

New Delhi, Apr 30 (UNI): State owned non-banking finance company REC limited, under Ministry of Power, on Tuesday reported 34 per cent jump in net profit at Rs 4,016 crore during the Q4 (January-March) of 2023-24 compared to Rs 3,001 crore in the same period of 2022-23.

see more..

Rupee rises 3 paise against USD

30 Apr 2024 | 4:45 PM

Mumbai, April 30 (UNI) The Rupee on Tuesday rose marginally by 3 paise to close at 83.44 against the USD on selling of US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image