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Business Economy

ZEE new org structure – Broadcast, Digital, Movies & Music key Biz verticles

New Delhi, Apr 17 (UNI) A day after withdrawing merger implementation application from NCLT, ZEE Entertainment on Wednesday announced new structure for the organization across 4 key business areas – Broadcast, Digital, Movies and Music with a view to enhance performance and profitability.
ZEE Entertainment Enterprises Ltd.’s Board of Directors, today approved the streamlined organization structure proposed by the MD & CEO, Mr. Punit Goenka, which is in line with his strategic plan focused on enhancing the performance and profitability levels across the Company.
Under the guidance of the Board, the organization structure has been designed with speed and agility at the forefront, in order to nurture collaboration and leverage synergies amongst the core business segments which include Broadcast, Digital, Movies and Music, the company said in a statement.
Punit Goenka, MD & CEO will assume direct charge of the critical business verticals including the Domestic Broadcast Business.
Frugality, Optimization and a Sharp Focus on Quality Content are the three key tenets of the plan implemented by the management, and the lean organization design is in line with this approach, the company said.
Leveraging his deep understanding of the rapidly evolving digital entertainment landscape, Mr. Amit Goenka will continue to lead the Digital Business for the Company, taking direct charge of original content (including movies).
He will assume additional charge of the International Broadcast Business, Enterprise Technology and Broadcast Operations & Engineering, leveraging synergies between the business segments to drive higher growth. In this role, he will continue to report to the MD & CEO.
Having a domain expertise and understanding of content production, strategy, movies acquisition and syndication, Mr. Umesh Bansal will lead the Movies business for the Company and he will also report to the MD & CEO.
While the Music Business will be headed by Mr Anurag Bedi, the company said adding “all Corporate Functions” will continue to report to the MD & CEO. The new structure is effective immediately.
Commenting on the development, Mr. R. Gopalan, Chairman, ZEE said, “The Board has reviewed and approved the lean organization structure proposed by the MD & CEO, which aims at streamlining the organization and improving efficiencies across the business.
“The strong and capable set of leaders identified for each core business segment in the lateral structure, are highly reflective of the Company’s deep bench strength and ensure that the Company remains well-positioned for the future. We are confident that a lean team under the leadership of Punit, will enable the Company to achieve its set goals and priorities for the future, further generating higher value for the shareholders,” he added.
Mr Punit Goenka, MD & CEO said, “I remain grateful to the Board for recognizing our efforts to arrive at a streamlined organization structure. In line with our approach towards maintaining a sharp focus on profitability, the new structure encompasses a more resilient team for the organization to ensure agility and collaboration.
“Through this restructuring exercise, our aim has been to build an independent and enterprising team led by an experienced set of leaders to drive the Company forward. I look forward to working closely with the teams to chart robust growth and achieve our strategic priorities for the Company,” he added.
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