The Board of ZEE Entertainment Enterprises at its meeting held on 25 November 2019 completed the process of reconstitution of the board and appointed three new independent directors in lieu of two independent and one nominee Director of Essel Group, namely Niharika Vora, Sunil Sharma and Subodh Kumar, respectively.
The Board also accepted the resignation of Subhash Chandra, Chairman of the company. The Board has requested him to not only continue as a board member but also to be the 'mentor' to the executive management and its MD & 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.