Subhash Chandra resigns as the Chairman of ZEE Entertainment

During the meeting held on November 25, the Board of ZEE Entertainment Enterprises Ltd. finished reconstituting the board. The Board has now appointed three new independent directors in lieu of two independent and one nominee Director of Essel Group – Niharika Vora, Sunil Sharma, and Subodh Kumar, respectively.

The big news which is of utmost importance is that Subhash Chandra, The founder of ZEE expressed his will to back off as the chairman of the Company, which he founded way back in 1992.


While accepting his resignation with regret, the Board applauded his vision for the Company and the industry at large.

Taking this decision, Chandra also expressed the desire to step aside as a board member. However, it was a request by all the members of the board for him to not only continue as a board member but also to be the ‘mentor’ to the executive management and its MD and CEO.

The reconstitution of the board was to strengthen and induct independent members with varied experiences to build value and provide a strong signal to the existing and new institutional investors who have recently reposed their faith in the intrinsic value of the Company, by investing Rs. 4770 Crore.

The reconstituted board consists of six independent directors and two members from the Essel Group. R. Gopalan, Surendra Singh, Aparajita Jain are the new board members.

The reconstituted board conducted their first meeting on Monday, chaired by Gopalan, Former Finance Secretary of India.