The upheaval at INX Media continues. Only this time, the exiting names include the company’s CEO Indrani Mukerjea and the Chairman and CSO Peter Mukerjea, who are also the promoters of INX Media. The duo is stepping down from their current management roles. A reason that the Mukerjeas gave to some of the office staff when the announcement was made after an office party on March 10, 2009 was that “their management decisions were doubted”.
Indrani Mukerjea’s role with the company would end in April 2009 and Peter Mukerjea’s would end in March 2009. They will continue to be shareholders of the company.
In the meanwhile, INX investors have roped in industry veteran Pradeep Guha to consult on the way forward for the organisation. Company sources have confirmed the development to exchange4media, and explained that for now, Guha would be in a “defined limited engagement” at INX Media. Clarity on the details of the engagement would be further known next week, when Guha would begin visiting the INX office.
It may be recalled that since January 2009, INX Media had seen a significant churn in the organisation where many senior and mid management officials exited the company. The list included names across departments, such as Content Head for Fiction Kumud Chaudhary; Group Director Anthony Pettifer; Research Head Tapan Pal and Sr VP, Corporate and Channel PR, Pavan Chawla amongst many others.
Neither Indrani Mukerjea nor Peter Mukerjea responded to exchange4media’s calls or mails after the announcement was made. The moods at the INX offices continue to be grim. Even as 9X has launched ‘Black’, the other shows are still on repeats and the channel GRPs is seeing a fall week on week. 9XM that has been leading in the Hindi music genre ever since its launch, is also seeing its share of problems now with MTV bouncing back to the top, with shows like ‘Roadies’.
The INX Media employees have many questions --- has the company managed to get the second round of funding that the Mukerjeas had been trying for; are there more names that would have to exit the organisation soon; what really is the future for these channels and what would be the impact of the Mukerjeas’ exit from the management. Not many answers are forthcoming at present but it is only a matter of days now before the dust settles on these concerns.
Mukerjeas exit INX Media; Pradeep Guha steps in to consult
9X besieged by layoff woes