Rohit Kumar Gupta, Chief Financial Officer, ZEE Entertainment Enterprises Ltd, has decided to step down from his position due to personal reasons. Mukund Galgali, who has been with the Group for more than 17 years and currently spearheading the Commercial and Strategic Initiatives of the Company, as an acting Chief Financial Officer.
In the past few months, the company has also seen a host of resignations across board. Some of these include Rahul Johri, President Business- South Asia, Nitin Mittal, President – Technology and Data, Punit Misra, President – Content and International Markets at ZEEL and others.
Previously, MD and CEO Punit Goenka had outlined his strategy to improve margins in the coming quarters. He had highlighted the three focus areas for the company. They were frugality, optimisation, and a sharp emphasis on high-quality content. During the earnings call for FY 24 Q4 results, Goenka emphasised ‘frugality’ again. According to him, the need of the hour is to pivot to business to achieve a balanced cost structure in order to achieve sustained long term growth.
“With that backdrop we are looking at every element of the business with the lens of improving the overall performance. As a result we expect some short term aberration in digital business financial performance,” he had said.