The digital business at HT Media has come in for a serious jolt as Vishal Chaddha is confirmed to have put in his papers. Exchange4media has been told that Chaddha is keen on playing a role in the emerging start-up space of the country. He, however, will not initiate a start-up of his own. It was revealed that Chaddha has been angel investing into a number of start-ups since the last few years. After his departure from HT is formalized, he intends to play a mentorship role at these start-ups.
Presently, Chaddha is the Chief Executive Officer (CEO) of HT’s digital businesses. Having joined HT in 2012, Chaddha was initially managing the advertising sales of its newspaper brands. Thereafter, he was handling revenues for the internet business. Chaddha commands cross-sectoral experience in industries such as financial services, fast moving consumer goods, and media & entertainment.
Prior to coming onboard at HT, he was ABN Amro Bank’s Senior Vice President. He learnt the intricacies of management, marketing, and sales at Coca-Cola India where he worked for a decade. His exit from HT Media comes in the wake of the company’s much publicized cost-cutting exercise. A few weeks ago, Arun Anant also resigned from HT Media as Director – Revenue and Strategy.
In January, HT Media announced the closure of several editions and bureaus. Besides journalists, numerous management personnel were issued pink slips. While HT’s cost- rationalization exercise is said to be limited to its print business for now, the company is not entirely finished with it. Earlier in February, Shamit Bhartia, the son of HT Media Chairperson and Editorial Director Shobhana Bhartia, relinquished the directorship of HT Media and assumed the office of Managing Director for a period of five years at Hindustan Media Ventures Limited (HMVL). While the board of directors at HT Media are slated to meet and approve the previous quarter and fiscal’s results on May 19, HMVL’s directors will do the same a day earlier.