Punit Goenka to reportedly continue as MD and CEO, though it remains to be seen whether the Essel Group will still be classified as promoters with a residual 5% stake.
The Essel Group wanted a time extension to fetch better value for its assets including roads, green energy, and its flagship Zee Entertainment Enterprises.
The Kolkata-headquartered group is working on a strategy to repay debt raised for other businesses, while trying to bring down pledged promoter holdings in its FMCG company.
The MD and CEO of Zee Entertainment Enterprises says the promoters would rather own a smaller share of a larger pie than be relegated to the fringes as entertainment sector technologically advances.
