Zee CEO Punit Goenka to oversee broadcast revenue division

Punit Goenka, MD and CEO of Indian media giant Zee Entertainment Enterprises Ltd, will now work directly with the revenue department of the company’s broadcast business.

Ashish Sehgal, chief growth officer, advertisement revenue, will now directly report into Goenka. Rahul Johri, who led the revenue and monetization vertical, has stepped down after a three-year stint with Zee. Sehgal will now work closely with Goenka, in order to maximize value for advertisers, Zee said. Those who used to previously report to Johri, will now report into the office of Goenka.

“In line with the strategic approach undertaken by the MD and CEO, this announcement is the first step towards streamlining the organization, in order to optimize the resource allocation and enhance productivity,” Zee said in a statement.

The move comes after Sony Group Corporation recently ended its more than two-year attempt to merge its TV and streaming businesses in India with Zee.

“The management of the company, under the leadership of Mr. Goenka, will continue to take all the required steps that are aimed towards enhancing the performance of the company and most above, in the interest of its esteemed shareholders. The MD & CEO will continue to implement the required measures to reduce the costs, optimize the resources and most above, sharpen the focus of the organization towards enhanced levels of quality,” Zee said.

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 endeavors. I am most certain that with his passion towards the sports and media business; he will continue to contribute towards the industry at large. I also look forward to working closely with Ashish and team, with an aim to drive higher growth in the advertisement revenue segment, as the linear business landscape unlocks more growth opportunities.” Variety