Punit Goenka, CEO of Zee Entertainment Enterprises Ltd (ZEEL), faced a significant setback as shareholders voted against his reappointment as a director during the company’s annual general meeting (AGM) on November 28, 2024. The voting results showed that 50.45 percent of shareholders opposed the resolution, marking a key moment in Goenka’s leadership at ZEEL.

This development follows Goenka’s decision to step down as the company’s Managing Director (MD) earlier in November, citing a focus on his operational responsibilities as CEO. Despite his resignation from the MD role and the withdrawal of consent for reappointment, Goenka will continue as CEO for a five-year term, lasting until 2029, The Economic Times reported.

In a related move, the ZEEL board approved the appointment of Saurav Adhikari as an additional non-executive director, effective November 29, 2024. This appointment, recommended by the Nomination & Remuneration Committee, is still subject to shareholder approval.