Zee said that Subhash Chandra tendered his resignation on August 18, “which was reluctantly accepted by the Board of Directors”. The media baron launched Zee TV in 1992.
Subhash Chandra, the founder and Non-Executive Director of Zee Entertainment Enterprises (Zee) will be stepping down from his post to take charge as the Chairman Emeritus of the company. Zee said that Subhash Chandra tendered his resignation on August 18, “which was reluctantly accepted by the Board of Directors”. The media baron launched Zee TV in 1992. The company informed the stock exchanges that Subhash Chandra will continue to guide the board and senior management acting as the ‘Chairman Emeritus’ with effect from August 19. Additionally, ZEE has appointed R Gopalan as Chairman of the Board.
According to the statement, Subhash Chandra expressed a great sense of satisfaction, having witnessed a Company which he founded 27 years ago, emerge into a media & entertainment giant. Explaining his new role as the Chairman Emeritus, the company said, “In this advisory role, his rich experience and farsightedness will help the Company immensely and his services, guidance and mentorship will be availed from time to time. This position will not carry any remuneration.”
Subhash Chandra’s Zee Network currently runs over 90 channels spread across various countries. According to Forbes, Chandra’s net worth stands at $2.5 billion. The billionaire businessman is also a serving Member of Rajya Sabha from his home state of Haryana.
The entertainment powerhouse said that it has appointed R Gopalan as Chairman of the Board. Gopalan was in November last year appointed as an Additional Director in the category of Independent Director. The new Chairman of the Board is an alumni of the Ministry of Commerce and the Ministry of Finance. A former IAS Officer, Gopalan held various responsible positions. According to the company statement he has served as the Member of Public Enterprises Selection Board, Secretary Dept of Economic affairs, Secretary, Department of Financial Services, CMD Tamilnadu Industrial Development Corporation, among other key positions.