<p>New Delhi: <a href="https://www.deccanherald.com/business/companies/court-directs-bloomberg-to-take-down-defamatory-article-against-zee-2918360">Zee Entertainment Enterprise Ltd</a> on Saturday announced the resignation of Rahul Johri and changes in the revenue vertical of the broadcast business implemented by its MD & CEO Punit Goenka.</p><p>Johri, who was President - Business of Zee Entertainment Enterprise Ltd (ZEEL), and heading revenue and monetisation, has resigned after a stint of over three years, according to a statement from the company.</p><p>The company has accepted the resignation of Johri, it added.</p><p>Besides, ZEEL also announced strategic changes in the revenue vertical of the broadcast business.</p><p>Now Ashish Sehgal, Chief Growth Officer, Advertisement Revenue, will directly report to the MD & CEO, said ZEEL.</p>.Zee Entertainment shares tumble 12%; hit lower circuit limit.<p>"This announcement is the first step towards streamlining the organization, in order to optimize the resource allocation and enhance productivity," it said.</p><p>Before ZEEL, Johri was the first Chief Executive Officer at the Board of Control for Cricket in India (BCCI) and led Discovery's South Asia operations.</p><p>Goenka said: "With his rich expertise and experience, Rahul has added immense value to the organization. I wish him all the success in his future endeavours. I am most certain that with his passion towards the sports and media business; he will continue to contribute towards the industry at large."</p><p>Now Sehgal will work closely with the MD & CEO to maximize value for the advertisers.</p><p>"Since the MD & CEO will be directly working with the revenue teams, all other reportees of Johri will report into the office of Punit Goenka," it said.</p><p>Earlier this week, ZEEL Chairman R Gopalan in an investor conference said since 2020 ZEEL's performance has been impacted due to industry-wide macro slowdown, transitory issues, and management bandwidth constraints due to merger activities.</p><p>The board has decided to closely monitor the business model and plan presented by the MD & CEO of the company, wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA.</p><p>Last month, ZEEL reported a decline of 2.36 per cent to Rs 2,073.36 crore in its consolidated total income for the third quarter ended in December 2023.</p><p>Zee had earlier announced a merger with Sony Pictures Network India, which could have created a USD 10.5 billion media entity in the country.</p><p>However, it was called off by the Sony Group in January, and both sides are now mired in litigation and arbitration.</p><p>Intense and prolonged merger-related activities have impacted operations and business, Gopalan said, adding the company has now taken several incremental steps to protect all stakeholders and enhance its intrinsic value through this phase.</p>
<p>New Delhi: <a href="https://www.deccanherald.com/business/companies/court-directs-bloomberg-to-take-down-defamatory-article-against-zee-2918360">Zee Entertainment Enterprise Ltd</a> on Saturday announced the resignation of Rahul Johri and changes in the revenue vertical of the broadcast business implemented by its MD & CEO Punit Goenka.</p><p>Johri, who was President - Business of Zee Entertainment Enterprise Ltd (ZEEL), and heading revenue and monetisation, has resigned after a stint of over three years, according to a statement from the company.</p><p>The company has accepted the resignation of Johri, it added.</p><p>Besides, ZEEL also announced strategic changes in the revenue vertical of the broadcast business.</p><p>Now Ashish Sehgal, Chief Growth Officer, Advertisement Revenue, will directly report to the MD & CEO, said ZEEL.</p>.Zee Entertainment shares tumble 12%; hit lower circuit limit.<p>"This announcement is the first step towards streamlining the organization, in order to optimize the resource allocation and enhance productivity," it said.</p><p>Before ZEEL, Johri was the first Chief Executive Officer at the Board of Control for Cricket in India (BCCI) and led Discovery's South Asia operations.</p><p>Goenka said: "With his rich expertise and experience, Rahul has added immense value to the organization. I wish him all the success in his future endeavours. I am most certain that with his passion towards the sports and media business; he will continue to contribute towards the industry at large."</p><p>Now Sehgal will work closely with the MD & CEO to maximize value for the advertisers.</p><p>"Since the MD & CEO will be directly working with the revenue teams, all other reportees of Johri will report into the office of Punit Goenka," it said.</p><p>Earlier this week, ZEEL Chairman R Gopalan in an investor conference said since 2020 ZEEL's performance has been impacted due to industry-wide macro slowdown, transitory issues, and management bandwidth constraints due to merger activities.</p><p>The board has decided to closely monitor the business model and plan presented by the MD & CEO of the company, wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA.</p><p>Last month, ZEEL reported a decline of 2.36 per cent to Rs 2,073.36 crore in its consolidated total income for the third quarter ended in December 2023.</p><p>Zee had earlier announced a merger with Sony Pictures Network India, which could have created a USD 10.5 billion media entity in the country.</p><p>However, it was called off by the Sony Group in January, and both sides are now mired in litigation and arbitration.</p><p>Intense and prolonged merger-related activities have impacted operations and business, Gopalan said, adding the company has now taken several incremental steps to protect all stakeholders and enhance its intrinsic value through this phase.</p>