In a major organisational restructuring drive, Zee Entertainment Enterprises Ltd (ZEEL) has created key operational building blocks, which will be headed by Chief Operating Officers and supported by corporate functions such as revenue, finance, human resources, strategy and business development, company secretary, legal, IPR, and IT.
The key operational building blocks of the architecture include National Channels; Regional Channels – Hindi Speaking Market (HSM); Regional Channels – South; International Operations; and Movie Business.
This architecture will evolve over a period of time in its comprehensive shape. This evolution will be determined by multiple factors such as achievement of critical mass, development of certain businesses, etc. However, some immediate changes of responsibilities include:
Nitin Vaidya, Director - Regional Cluster, will assume the role of COO – National Channels. He will also look after the Regional Channels - HSM as additional responsibility till further notice. All channel heads except southern channels shall report to him.
Bharat Ranga will continue to take care of overseas operations and will be designated as COO – International Operations.
G Ramprasad will continue to take care of all southern channels and will be designated as COO – Regional Channels - South.
Joy Chakraborty will be designated as Chief Revenue Officer and will take care of advertisement and subscription revenue for all the domestic channels.
Neil Chakraborty will be designated as Head - Strategy & Business Development.
Commenting on the latest revamp exercise, an official statement quoted Punit Goenka, CEO, Zee Entertainment, as saying, “Last few months have been pretty significant for Zee as we did very well on multiple fronts. Channels like Zee Bangla and Zee Marathi continue to flourish while Zee Telugu hit the breakeven in record time. Zee Kannada showed huge potential and is already on the ascent. Zee Tamizh has also been launched recently.”
On the media entertainment industry, he said, “The Media entertainment industry is going through a transition and the recent entry of new players has perpetuated the metamorphosis. It is time for us to take stock and get prepared to manage growth for future. This growth will not only be fuelled by existing offerings, but some new business opportunities will propel the growth engine to a large extent. These new business opportunities will not only help us expand our vistas, but also extend our lateral business integration across the value chain. This new order of business reality will certainly demand significant changes in support systems, operational framework and the organisational architecture.”
“The existing organisational architecture has successfully facilitated our functioning so far and we have seen the benefits. But the changed business scenario has triggered the need to have relook at the architecture. We’ve had a series of discussions regarding the possible structure and discussed various designs and options, which will synergise with our future business plans and maximise the value add,” Goenka added.