Subhash Chandra appointed Chairman Emeritus of Zee Entertainment

Essel Group promoter Subhash Chandra has been appointed 'Chairman Emeritus' of media company Zee Entertainment Enterprises Ltd, as per a regulatory filing.  Zee Entertainment Enterprises Ltd (ZEEL) has also appointed former bureaucrat R Gopalan as the chairman of the board with immediate effect.

Chandra on Tuesday tendered his resignation as the non-executive director of the company, which he had founded in 1992. The board has accepted his resignation. In November last year, Chandra had stepped down as chairman of ZEEL after the group had divested promoters' stake in the company to repay debts.

"In recognition of the fact that Chandra founded the Company and considering his unmatched contributions, as a mark of respect, the Board requested him to act as ''Chairman Emeritus'' with effect from August 19, 2020 and the same was accepted by Chandra," ZEEL said in a filing to BSE.

Chandra would continue to guide the company in an advisory role and the position would not carry any remuneration.

"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," it added.

: Zee Entertainment Q1 net profit at Rs 29.28 cr

The new Chairman Gopalan was appointed as additional director of the company on November 25, 2019. The former IAS officer has held various positions, including member of Public Enterprises Selection Board; secretary, Department of Economic Affairs; secretary, Department of Financial Services; and CMD Tamilnadu Industrial Development Corporation.