The appointment of Subhash Chandra as chairman emeritus will take effect from August 19, the company said post-market hours on Tuesday.
Subhash Chandra appointed new chairman of emeritus
Zee Entertainment on Tuesday appointed founder Subhash Chandra as chairman emeritus on Tuesday after he quit as a non-executive director. His appointment will take effect from August 19, the company said in a regulatory filing after market hours on Tuesday. As chairman emeritus, Mr Chandra will continue to guide the company’s board and its senior management, Zee Entertainment said.
ZEEL has also appointed R Gopalan, former financial services secretary, as chairman. Gopalan has been serving as additional director (independent) at Zee since November 2019.
“In recognition of the fact that Chandra founded the company and considering his unmatched contributions, as a mark of respect, the Board requested him to act as ‘Chairman Emeritus’ with effect from August 19, 2020, and the same was accepted by him. This position will not carry any remuneration. As Chairman Emeritus, Shri. Chandra will continue to guide the Board and the Company’s Senior Management,” ZEE said in a filing to the Bombay Stock Exchange on Tuesday.
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New chairman Gopalan has vast experience in the economic and financial administration of the country with long stints with the ministry of commerce and finance ministry and in the manufacturing and services sectors. He has held several positions including member of public enterprises selection board, secretary at the department of economic affairs and the department of financial services, besides having led the Indian negotiation team at the World Trade Organisation.
He has a masters in public administration and management from Harvard University, an MA in economics from Boston University and a bachelor’s degree in Chemistry from Madras University.
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Zee said there has been a strong bounce back in viewership shares across the network post-COVID-19 lockdown and the broadcaster enjoys 19.2 per cent all-India entertainment share over the last four weeks.
Its domestic subscription revenues grew by 6.2 per cent on a higher base, primarily led by Zee5 subscription revenue.
