Zee Entertainment Raises Targets for MD Punit Goenka Ahead of Reappointment
The Board of Directors of Zee Entertainment Enterprises Ltd has approved increased performance targets for Managing Director and CEO Punit Goenka ahead of his reappointment, which is set to be voted on at the company's upcoming annual general meeting.
“Based on the recommendation of the nomination & remuneration committee the [board] considered and approved higher targets to evaluate the performance of Punit Goenka, which includes quarterly consolidated revenue outlook for the next four quarters (commencing Q3FY25), quarterly consolidated Ebitda outlook for the next four quarters (commencing Q3FY25) and payout of 25% of consolidated net profits as dividend to shareholders. Further, the board will track the performance of Punit Goenka basis the above-mentioned targets”, the company said in an exchange filing.
The board also approved the appointment of Saurav Adhikari as an additional non-executive director with effect from 15 November, Zee said in the filing, subject to the approval of the members of the company.
Adhikari is a business leader with four decades of expertise in global businesses and markets across technology, FMCG, and consumer durables sectors as an operations, general management, and investment specialist. In more than two decades in the technology sector with HCL, he held multiple leadership roles as the founding president of its startup enterprise networking firm, president of HCL’s IT-enabled services North American business, and president of global corporate strategy.
His extensive background includes senior leadership and executive roles at Unilever, Vice President at PepsiCo, and CEO of Groupe SEB's India business. Currently, he serves as the Founder and Senior Partner at Indus Tech Edge Fund I, a growth fund dedicated to globalizing India’s technology ecosystem.