Confident that we will be back to No.1 position in broadcasting soon: Punit Goenka

In an interview to CNBC, the Zee Entertainment CEO and Managing Director has also said there was a need to strengthen the board with appointments from media and digital space

e4m by exchange4media Staff
Updated: Dec 2, 2019 3:37 PM
Punit Goenka

Zee Entertainment CEO and Managing Director Punit Goenka in an exclusive interview to CNBC has said an independent agency has been appointed on the company board to examine his compensation and contract.

The development comes in respect to issues raised by Niharika Vohra, an Independent Director, who stepped down recently.

The decision was taken by the board after detailed talks, Goenka said. The agency’s results will be out in around 8 weeks.

On corporate governance issues raised by directors who have left the company, Goenka said in the interview: "(I) respect the decision of the directors to resign. I do not think they have sullied the reputation of the company.”

Goenka has also said that there was a need to strengthen the board further with people being appointed from the media and digital space.

Goenka has said handling the promoter pledge issue had taken much of his time and energy in the last few months and that the focus now will entirely be upon at improving Zee’s performance.

“We have identified critical regional markets that have gaps in our portfolio. I am pretty confident that we will be back to our No.1 position in broadcasting fairly soon,” he has said.

"I assure shareholders that none of the group companies will have a medium or long-term impact on Zee even if there is something as drastic as their financial deterioration had to happen. "He said the companies have been meeting their obligations on time and have committed to the shareholders that business will be back to normal by March 2020,” Goenka has said.

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