Gaming
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ZEE's Punit Goenka to give up his MD role, asks board to relinquish him from the position
ZEE's MD and CEO Punit Goenka wants to 'dedicate' his time for the future of the company and enhance its performance, according to the company.
The proposed issue, if approved, would shoot up the promoter group’s shareholding from a modest 3.99% to a commanding 18.39%.
Punit Goenka has asked the board of ZEE Entertainment Enterprises Ltd (ZEEL) relieve him from the position of managing director of the company as he wants to 'focus' on the operational responsibilities as the chief executive officer, the media and entertainment firm said in a statement on November 18.
With this move, Goenka wants to 'dedicate' his time for the future of the company and enhance its performance, the statement said.
“The company remains on a firm footing and is taking all the necessary steps to build a robust foundation for its future. In order to ensure we maintain a sharp focus on achieving our targeted aspirations, the core businesses require dedicated time and energy which can only be achieved in an operational capacity. In the long-term interest of the company and all its stakeholders, I have approached the Board with a request to attain operational focus as the Chief Executive Officer. I am grateful to the Board for recognizing my efforts and supporting me in this approach,” Goenka said.
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