Following a stint of over nine years with the Times of India Group, AP Parigi on Saturday, August 1, 2009, decided to step down as Managing Director. The Board of Directors of Entertainment Network (India) Ltd (ENIL) is said to have ‘reluctantly’ accepted Parigi’s decision. Parigi will serve as MD of ENIL till September 30, 2009, and will continue to be associated with the company as a Non-Executive Director.
Parigi had joined the Times of India Group in 2000 and had led their foray into Radio, OOH Media, and Event management. He is said to have successfully led the dialogue with the regulatory bodies for the Phase II radio policy, which paved the way for the exponential growth of the private FM radio sector in India. He was also associated with a number of other new media initiatives of the Times Group. This apart, he is also said to have lead managed the acquisition of the UK radio business franchise of the SMG group, which is said to be the first overseas acquisition by any Indian media group.
Parigi said, “I turned 60 years earlier this month, and I thought I should devote more time and energy to pursue my long cherished personal interests and passions. It was indeed a privilege to be a member of the leadership team at the Times Group. I thoroughly enjoyed my tenure at ENIL and am very delighted with the emergence of Radio Mirchi as India’s leading media brand.”
In a prepared statement, Vineet Jain, Managing Director, Bennett, Coleman and Co Ltd, and Chairman, ENIL, said “Parigi has contributed immensely to the development of the FM radio sector and the leadership of the Radio Mirchi brand. He has also been associated with several new media initiatives of the Times Group, including Times OOH, Times Music and the Event management business, during his nine-year tenure with the Group. The Board of Directors of ENIL and I reluctantly accepted his decision to step down as Managing Director of ENIL. Parigi will, however, continue to serve as a non-executive director on the Board of the company.”
Parigi has more than 35 years of experience spanning across several sectors, including telecommunications and media and entertainment. He has held a number of key positions, including as CEO of BPL Mobile Communications (a JV with France Telecom). He is also the Chairman of the FICCI Radio Forum.
Parigi is a member of the Board of Directors of BCCL – publishers of The Times of India and The Economic Times. Parigi also serves on the boards of several other companies of the Times Group.