Zee Sees Exit Of Another Senior Executive As Punit Misra Resigns

Zee Entertainment Enterprises Ltd. said Punit Misra resigned from the position of president - content & international markets, effective 4 April.

Misra, who worked with the Indian media and entertainment company for seven years and six months, decided to step down to pursue interests outside the organization, Zee said in a stock exchange announcement.

Zee, which is taking several measures to drive its growth, didn’t provide the details about the successor of Misra, who was designated as senior management personnel of the company.

The development follows resignations of some other key executives from Zee in recent days. In March, Nitin Mittal, president of technology & data, as well as Rahul Johri, president of business - South Asia, had resigned to pursue interests outside the organization.

Last month, Zee also reduced the workforce at its Technology & Innovation Center by about 50% to optimize resources and achieve a cost-effective structure to drive the company’s growth. The Bengaluru-based technology hub had over 650 engineers, according to Zee’s annual report for FY23.

Earlier this month, Zee’s Managing Director and Chief Executive Officer Punit Goenka voluntarily took a 20% pay cut. The company said the step was in line with the larger strategic and frugal approach implemented across the organization.

Zee’s management is implementing several measures across verticals to optimize the costs and enhance productivity following the collapse of a $10 billion merger deal with Sony Group’s Indian units.

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