Zee Entertainment on Thursday secured the approval of its shareholders to re-appoint 5 board of directors, at the company’s 44th Annual General Meeting (AGM). These include Deepu Bansal, Uttam Prakash Agarwal, P.V. Ramana Murthy and Shishir Babubhai Desai as independent directors, and Saurav Adhikari as non-executive director with requisite majority.
The move comes as the media firm implements steps to strengthen its content strategy and achieve profitability in the digital business.
“During the fiscal, we continued to translate our capabilities into tangible business outcomes. The language-focused strategic approach backed by a rich user experience enabled Zee5 to attain profitability during the year. This marks a defining moment in our journey to build a truly home-grown, value-accretive digital business for the world, ” CEO Punit Goenka told shareholders.
In the linear segment, its new content strategy, which was implemented across channels, enabled the company to accrue higher viewership gains and achieve a network share exceeding 18 per cent, he added.
The company’s chairman, R Gopalan, also told shareholders in his speech that the company is building future-ready capabilities and chasing strategic initiatives that will push its growth trajectory to set new benchmarks.
“The board continues to match the pace of progress with holistic and structured review and guidance mechanisms that ensure every strategic decision is anchored in sound governance, prudent oversight and enduring shareholder value,” Gopalan added.
He also told shareholders that periodic guidance is being provided on key business decisions, enabling the team to effectively capitalise on the opportunities and mitigate any associated risks.