Punit Goenka resigns as MD, continues to be the CEO

Punit Goenka, Managing Director of ZEE Entertainment Enterprises Ltd (ZEEL), has requested the board to relieve him of his MD role to focus on his duties as CEO. This decision aims to improve the company’s performance and profitability. 

Goenka wants to focus on the operational responsibilities as the chief executive officer, the company said in a statement on Monday. 

“The Company remains on a firm footing and is taking all the necessary steps to build a robust foundation for its future. 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 recognising my efforts and supporting me in this approach,” said Goenka in a statement.

Additionally, Mukund Galgali has been appointed as the new Deputy CEO effective immediately in addition to his current role as Chief Financial Officer (CFO). 

In October 2024, the board had approved the proposal for Goenka's re-appointment as MD and CEO for a five-year term, which will be effective from January 1, 2025, to December 31, 2029.