The shareholders of Zee Entertainment Enterprises Ltd (ZEEL) have voted against the proposal to reappoint Alicia Yi as an independent director on the company’s board.

The special resolution seeking Yi’s reappointment received only 42 percent of the votes in favor, while 57.97 percent were against it.

In a regulatory filing late Thursday, ZEEL stated, ‘Based on the votes cast by the members, the special resolution pertaining to the reappointment of Alicia Yi as an independent director of the company for a second term of 3 years has failed to receive the requisite number of votes in favor.’

Consequently, Alicia Yi will vacate the position of independent director, effective from July 13, 2023.

ZEEL further added that the board would take the necessary steps to comply with the Companies Act, 2013, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, in order to ensure the optimal composition of the company’s Board of Directors, PTI reported.

Alicia Yi currently serves as the Vice Chairman, Consumer Market for Korn Ferry, based in Singapore.

In 2021, ZEEL announced its merger with Culver Max Entertainment (formerly known as Sony Pictures Networks India). The merger has already obtained approval from stakeholders, creditors, and the fair trade regulator CCI. However, the final approval from the National Company Law Tribunal (NCLT) is still pending, as the tribunal recently reserved its order on the matter.