Zee Entertainment Enterprises Ltd has reconstituted its board with appointment of three new independent directors in lieu of two independent and one nominee Director of Essel Group – namely Niharika Vora, Sunil Sharma and Mr. Subodh Kumar. The reconstituted board consists of six independent directors and two members from the Essel Group.
The company has also announced the exit of Subhash Chandra as the Chairman of the company. The board accepted his resignation during its meeting today. Subhash Chandra, will continue to be a board member of the company.
The reconstitution of the board was to strengthen and induct independent members with varied experiences to build value and provide a strong signal to the existing and new institutional investors who have recently reposed their faith in the intrinsic value of the Company, by investing Rs. 4770 Crore.
The new board members are – R. Gopalan, Surendra Singh and Aparajita Jain.
R Gopalan, from Indian Administrative Services has held various positions in Govt.- he was a Member of Public Enterprises Selection Board; Secretary Department of Company Affairs; Secretary Department of Financial Services, among others posts he has held during his career span. Presently, he serves as Member on the Board of Directors and Audit Committee of Sundaram Clayton Ltd, Board of Hindustan Power Projects Pvt Ltd, Chairman of ANA ARC Ltd (an Advisory Board of Start-up fund).
Surendra Singh is a retired IPS with experience in all matters pertaining to Security management including cyber security and forensic; risk analysis; data analysis; intelligence; security audit; protection of intellectual property and people/asset management.
Aparajita Jain is an Arts Graduate with rich experience in Contemporary Arts including as Executive Director of Nature Marte Art Ltd, a leading contemporary art gallery, Founding/Council Member of Harvard University’s South Asia Arts Council, Founder of Saat Saath Arts (Society) among others.
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