Punit Goenka Withdraws Request for Reappointment as ZEE Entertainment MD
ZEE Entertainment CEO Punit Goenka, who resigned as Managing Director last week, has also opted not to seek reappointment for the position at the upcoming AGM, according to an exchange filing.
While sharing Goenka's resignation letter to exchanges, Zee Entertainment Enterprises Ltd (ZEEL) said he is "withdrawing his consent for his re-appointment as Managing Director of the company as proposed in the Notice of the ensuing Annual General Meeting”.
Goenka, however, is retaining the CEO post. Earlier on October 18, 2024, the ZEEL board approved the proposal for Goenka's reappointment for a five-year term, effective from January 1, 2025, to December 31, 2029. Goenka's present tenure as Managing Director & CEO of the company was scheduled to finish at the 2024-end.
Goenka's reappointment was subject to shareholder approval at the upcoming AGM, scheduled for November 28. However, on November 18, Punit Goenka, son of media mogul Subhash Chandra, resigned as Managing Director of Zee Entertainment.
ZEEL last week informed exchanges that its board accepted Punit Goenka's resignation as Managing Director and appointed him CEO.
"With this step, he intends to dedicate his time entirely towards the future of the Company by enhancing its performance and profitability levels in line with the direction given by the Board/Nomination and Remuneration Committee in its meeting dated 15th November 2024", ZEEL said.