Ajit Varghese, Head of Revenue, Entertainment & International at JioStar, has stepped down from his post and is slated to join Madison World as Partner and Chief Executive Officer, according to people familiar with the development. The move marks a key leadership shift at the Reliance-owned media network, coming at a time when the digital and broadcast landscape is undergoing significant transformation.
About Ajit Varghese
An industry veteran, Varghese had joined JioStar in 2023 as Head of Network Advertising Sales, later taking on an expanded mandate to lead revenue across both entertainment and international verticals. His previous stints include leadership roles at ShareChat and Moj as Chief Commercial Officer, and as Global President at Wavemaker, where he oversaw business operations across more than 50 markets from London. He has also served as CEO for Maxus in the Asia Pacific region.
At Madison, Varghese is expected to bring his extensive experience across media, digital platforms, and network monetisation to bolster the agency’s strategic growth.
Mahesh Shetty to lead revenue function
Following Varghese’s departure, Mahesh Shetty, who currently heads Large Customer Sales (LCS), has been elevated to lead the entire revenue organisation at JioStar. The transition was communicated internally via a company memo earlier this week.
Shetty, who joined the company in December 2024, brings over two decades of media and advertising experience. Prior to JioStar, he held senior leadership roles at Viacom18 as Head of Network Sales, where he was instrumental in shaping sales strategies and deepening client relationships. He has also served as Chief Operating Officer and Chief Strategy Officer at Radio Mirchi, gaining valuable exposure to operational and strategic planning functions.