Enterprises secured the approval of its shareholders to reappoint 5 Board of Directors, at the Company’s 44th Annual General Meeting (AGM) on Thursday evening. During the proceedings, company leaders also talked about company’s plans to scale in a difficult macro environment.
The shareholders approved the re-appointment of 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 strong support garnered from the shareholders, reaffirms their confidence in the Board’s capabilities to further strengthen the Company’s governance standards, strategically guide the management team for the future and generate higher value for all stakeholders,” said Zee in a press release.
Chairman, R. Gopalan in his speech said, “To ensure the growth capital is deployed effectively to maximize value, the Board maintains a robust oversight with regular assessment of strategic priorities. We are taking the required efforts to create a technology-powered digital ecosystem that will further effectively monitor the existing policies and internal processes. This ecosystem will create an internal intelligence warehouse that will track the key business activities of Zee and reinforce a culture of accountability to address evolving stakeholder expectations and regulatory requirements.”
He also talked about strengthening governance standards through higher levels of transparency and disclosures to ensure that all stakeholders reach a comprehensive understanding of Zee’s and progress on strategic priorities.
Stating that the company is on a much stronger footing with a dividend of ₹2 per equity share despite a challenging macro environment, Gopalan said, “The opportunities before us are immense and I am pleased to note that Zee is identifying and capitalizing on them with a clear vision, disciplined execution and an unwavering focus on long-term value creation. In this journey, the Board remains deeply engaged in guiding the Company’s strategic direction while ensuring that the shareholders’ interests remain at the forefront of every decision.”
Meanwhile, Punit Goenka, CEO, Zee Entertainment, said the company is building on a furthermore diversified portfolio that reimagines the breadth of its business and captures a higher share of the attention economy.
“We are establishing new growth engines across emerging, high-potential segments such as micro dramas, kids content and live entertainment. Our partnership with the global Animation and VFX Studio – PhantomFX will enable Zee to create richer intellectual properties in the animated content segment,” he said.
In terms of the sports portfolio, Goenka said the goal is to build a sustainable sports ecosystem across the Nation, by driving higher engagement through marquee properties like FIFA Bundesliga, Serie A and uplifting sports through purposeful on-ground initiatives.