Shareholders block Punit Goenka’s reappointment as Director
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1 week ago 02:47:30pm Television

Shareholders block Punit Goenka’s reappointment as Director

New Delhi, 29-November-2024, By IBW Team

Punit Goenka

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.


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