ZEEL performed very well under Punit Goenka as Managing Director until the pandemic hit businesses across sectors, said R Gopalan, Chairman of the Board, during an investor conference call. He was asked how critical was Punit Goenka to the company’s strategy and continuation of its capital-efficient execution.  

“We were doing extremely well until then. So, we have to consider all these things before coming to any conclusion regarding the continuance of the MD (Goenka),” R Gopalan said.

The Zee Entertainment Enterprises Ltd Board is yet to form a view on the continuance of Punit Goenka as the Managing Director, he added.

“We are yet to form a view on this. We need to consider various factors. We are going through a revival process and it requires a tremendous amount of focus and knowledge of the company, and what it did in the past.”

“Also, this is the time when our businesses are looking up. 80% of our shows have gained market share which is significant from our immediate and long-term viewpoint. The board is yet to discuss and debate whether a change is necessary at this point,” he said.