Zee Media on Wednesday in a BSE filing intimated that Non-Executive-Non-Independent Director Punit Goenka had stepped down from the board of Zee Media. The resignation is effective the close of business hours of July 22, 2020.
Punit Goenka has tendered his resignation from the Directorship of the Company. The resignation has come on the account of pre-occupation. Goenka continues to be the MD and CEO of Zee Entertainment.
“We would like to place on record our gratitude for his participation as Director of the Board.”, the company said in its regulatory filing.
Goenka has been the MD of Zee Entertainment since January 1, 2010. According to Livemint, the resignation has come as Punit is looking to take a backseat in promoter group companies such as Zee Media, Siti Cable and Dish TV. With the institutional shareholders now having the major share in Zee Entertainment, the pressure on ZEEL to keep performing has seem to have increased. The resignation comes two days before Zee Entertainment’s Q4 FY 20 results are to be declared.
