GECs
MTV Euro chief Simon Guild quits
MUMBAI: The latest in line of executive departures at MTVN, MTV Networks Europe president and CEO Simon Guild announced his decision to not renew his contract. Guild has put in over 14 years as a broadcaster of niche channels including Nickelodeon, MTV, and TMF.
“As my contract was up for renewal I decided it was time to look for something new,” Guild said in a statement to the press.
MTV Networks vice chairman Bill Roedy said, “Over the past 14 years, Simon has been instrumental in driving the growth of the company’s European business, which has become the region’s biggest portfolio of leading multimedia brands under his leadership.”
Guild also added that “I have had 14 great years at MTV Networks Europe and I am proud to have played a key role in developing the business, but I want to move on to new challenges.
“As my contract was expiring, it seemed like a logical time to make a change. I know that I am leaving the business in the hands of some extremely capable executives across Europe with whom I have enjoyed working enormously.
Over the next few weeks, I will work with them and the company’s leadership to ensure a smooth transition.”
During his time at MTV, Guild helped to establish a vision for developing MTV Networks’ major brands, such as MTV and Nickelodeon, and expanded them across consumer products, digital media, events and marketing partnerships.
GECs
Sebi sends show-cause notice to Zee over fund diversion, company responds
Regulator questions 2018 letter of comfort and governance lapses; company vows robust legal response
MUMBAI: India’s markets watchdog has reignited its long-running scrutiny of Zee Entertainment Enterprises, issuing a sweeping show-cause notice that drags the broadcaster and 84 others into a widening governance storm.
The notice, dated February 12, has been served by the Securities and Exchange Board of India to Zee, chairman emeritus Subhash Chandra and managing director and chief executive Punit Goenka, among others. At its heart: allegations that company funds were indirectly routed to settle liabilities of entities linked to the Essel Group.
The regulator’s probe traces its roots to November 2019, when two independent directors resigned from Zee’s board, flagging concerns over the alleged appropriation of fixed deposits by Yes Bank. The deposits were reportedly adjusted against loans extended to Essel Group entities, triggering questions about related-party dealings and board oversight.
A key flashpoint is a letter of comfort dated September 4, 2018, issued by Subhash Chandra in his dual capacity as chairman of Zee and the Essel Group. The document, linked to credit facilities availed by certain group companies from Yes Bank, was allegedly known only to select members of management and not disclosed to the full board—an omission SEBI believes raises red flags over transparency and governance controls.
Zee has pushed back hard. In a statement, the company said it “strongly refutes” the allegations against it and its board members and will file a detailed response. It expressed confidence that SEBI would conduct a fair review and signalled readiness to pursue all legal remedies to protect shareholder interests.
The notice marks the latest twist in a saga that has shadowed the broadcaster since 2019. What began as boardroom unease has morphed into a full-blown regulatory confrontation. The final reckoning now rests with SEBI—but the reputational stakes for Zee, and the message for India Inc on governance discipline, could scarcely be higher.
