Zee Entertainment is streamlining its business to optimise resources and cut costs following the termination of the merger with Sony Pictures Networks India. After around two years of merger talks, the $10 billion deal did not go through.
The company announced strategic changes in the revenue vertical of the broadcast business which was announced on March 9. The changes have been implemented by MD and CEO Punit Goenka.
With immediate effect, Ashish Sehgal, Chief Growth Officer, Advertisement Revenue, will now directly report to Goenka. In line with the new lateral structure being implemented, Sehgal will now work closely with the MD & CEO, in order to maximise value for the advertisers.
This announcement is the first step towards streamlining the organisation, and is expected to help optimise resource allocation and enhance productivity, Zee said.
Zee has also accepted the resignation of Rahul Johri. During his stint at ZEE lasting over three years, Johri led the revenue and monetization vertical.
“It has been a pleasure to work with Punit and the entire team. ZEE is an ‘Academy of Talent’ and I will always be a proud alumni. I will continue to work towards the upliftment of the sports and media industry, leveraging my expertise to unlock its potential. I wish Punit and team ZEE, all the very best,” Johri said.
Since the MD & CEO will be directly working with the revenue teams, all the members of Johri's team, who used to report to him, will now report to the office of Goenka.
“With his rich expertise and experience, Rahul has added immense value to the organisation. I wish him all the success in his future endeavours. I am most certain that with his passion for the sports and media business, he will continue to contribute towards the industry at large. I also look forward to working closely with Ashish and team, with an aim to drive higher growth in the advertisement revenue segment, as the linear business landscape unlocks more growth opportunities,” Goenka said.
The management of the company, under the leadership of Goenka, will continue to take all the required steps that are aimed at enhancing the performance of the company.
The MD & CEO will continue to implement required measures to reduce costs, optimise resources, and sharpen the focus of the organisation towards enhanced levels of quality.
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