Punit Goenka has decided to step down as Managing Director (MD) of ZEE Entertainment Enterprises Ltd (ZEEL) and focus solely on his role as CEO to enhance the company’s performance. This decision follows a recommendation by the Nomination & Remuneration Committee, which approved higher performance targets for Goenka, including revenue, EBITDA, and profit goals. These targets will guide his evaluation over the next year.
Goenka’s decision to focus on operational responsibilities aligns with his strategy to drive growth, improve profitability, and enhance the company’s market understanding. He has been working on a new team structure and engaging directly with consumers and advertisers to strengthen ZEEL’s offerings. Goenka emphasized that dedicating his time to operations would allow the company to achieve its long-term goals.
The ZEEL Board supports Goenka’s shift in focus and expressed confidence in his ability to deliver results. In addition, the Board has appointed Mukund Galgali as Deputy CEO, alongside his current role as CFO, effective immediately. The company is also reviewing its HR policies and considering further management strengthening measures.