Zee Entertainment Enterprise Ltd on Saturday announced the resignation of Rahul Johri and changes in the revenue vertical of the broadcast business implemented by its MD & CEO Punit Goenka.

Johri, who was President-Business of Zee Entertainment, and heading revenue and monetisation, has resigned after a stint of over three years, according to a statement from the company, a PTI report from New Delhi stated.

The company has accepted the resignation of Johri, it added. Besides, ZEEL also announced strategic changes in the revenue vertical of the broadcast business.

Ashish Sehgal, Chief Growth Officer, Advertisement Revenue, will directly report to Goenka, said ZEEL. “This announcement is the first step towards streamlining the organization, in order to optimize the resource allocation and enhance productivity,” it said.

Before ZEEL, Johri was the first Chief Executive Officer at the Board of Control for Cricket in India (BCCI) and led Discovery’s South Asia operations.

Goenka said: “With his rich expertise and experience, Rahul has added immense value to the organization. I wish him all the success in his future endeavours. I am most certain that with his passion towards the sports and media business, he will continue to contribute towards the industry at large.”

“Since the MD & CEO will be directly working with the revenue teams, all other reportees of Johri will report into the office of Punit Goenka,” the statement said.

Earlier last week, ZEEL Chairman R Gopalan in an investor conference said since 2020 ZEEL’s performance has been impacted due to industry-wide macro slowdown, transitory issues, and management bandwidth constraints due to merger activities.

Last month, ZEEL reported a decline of 2.36 per cent to Rs 2,073.36 crore in its consolidated total income for the third quarter ended in December 2023.

Zee had earlier announced a merger with Sony Pictures Network India, which could have created a USD 10.5 billion media entity in the country.

However, it was called off by the Sony Group in January, and both sides are now mired in litigation and arbitration.

(Rahul Johri image courtesy his Facebook account)