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Zeel’s Punit Goenka resigns as MD, to continue as CEO
MUMBAI: He wants to get down to the brass tacks of business., roll up his sleeves and go about achieving the targets the Zee Entertainment Enterprises Ltd (Zeel) board/nomination remunerations committee has set him and rev up the company’s revenue and profits. Zeel CEO & MD Punit Goenka has resigned from the post of managing director while retaining his position as CEO. Earlier Punit had sought permission from the Zeel board to resign as MD and continue as CEO which it accepted, effective 18 November.
The company has also agreed to additionally designate Zeel chief financial officer Mukund Galgali as the deputy CEO. Galgali has been with the Zee group for the past 17 years, but has 27 years of work experience, and will support Punit in driving the company’s strategic initiatives. As a member of the leadership team, he has been providing strategic consulting advice on business planning and performance, regulatory and ta implications on business, process innovations and management controls etc. to improve business efficiency and value creation for shareholders.
The Zeel board has recommended that a deputy chief financial officer be appointed to further strengthen the management team. Further, it is continuing the review of the company’s HR policies, processes and salary structures which were changed during the merger.
It may be recalled that the Zeel board raised the targets set for Punit while reappointing him as the MD & CEO. Late last week, the board had also put him under close watch, saying they would be evaluating his performance in terms of quarterly consolidated revenues and EBITDA over the next four quarters commencing Q3FY25) and pay out of 25 per cent of consolidated net profits as dividend to Zeel’s shareholders.
In a statement issued on Monday, Punit said that Zeel remains on a firm footing and is taking all the necessary steps to build a robust foundation for its future. “In order to ensure we maintain a sharp focus on achieving our targeted aspirations, the core businesses require dedicated time and energy which can only be achieved in an operational capacity. In the long-term interest of the Company and all its stakeholders, I have approached the board with a request to attain operational focus as the CEO. I am grateful to the board for recognizing my efforts and supporting me in this approach,” he added.
As part of the changes, the variable portion (40 per cent) of Punit’s salary will be paid only on achievement of certain milestones, subject to a maximum cap as defined by the Zeel board.
Zeel chairman R. Gopalan stated,“The board appreciates the approach taken by Punit Goenka to sharpen his focus towards enhancing the operational aspects of the company as the chief executive officer. His expertise and business acumen remain unmatched, and we remain confident in his abilities to deliver immense value to the company and all its stakeholders in the position he assumes. On behalf of the board, I wish him immense luck and success going forward.”
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
