Zee's Subhash Chandra resigns as chairman

Chandra's resignation was accepted in a meeting of The Board of ZEE Entertainment Enterprises

Subhash Chandra, founder of ZEE has resigned from his post of the chairman of ZEEL. Chandra's resignation was accepted in a meeting of The Board of ZEE Entertainment Enterprises held today.

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In the meeting Chandra expressed his intent to step aside as the chairman of the company, which he founded in 1992. While the resignation was accepted Chandra he also expressed the desire to step aside as a board member. However, Chandra might continue as a board member and 'mentor' to the executive management and its MD and CEO.

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The Board of ZEE Entertainment Enterprises also reconstituted the board and appointed three new independent directors in lieu of two independent and one nominee director of Essel Group, namely Niharika Vora, Sunil Sharma and Subodh Kumar, respectively.

The reconstituted board consists of six independent directors and two members from the Essel Group.