As an adjunct of the measures being implemented by Zee Entertainment Enterprises Ltd MD & CEO Punit Goenka to “reduce costs and optimize resources”, the Indian media major has announced the exit of ZEE president Business Rahul Johri.
With immediate effect, Ashish Sehgal, chief growth officer, Advertisement Revenue, will directly report into Goel, ZEE announced at the weekend.
Johri, a veteran sports & media professional who led ZEE’s revenue and monetization vertical for over three years, was earlier the chief executive officer of the BCCI from 2016 to 2020.
Goenka said, “With his rich expertise and experience, Rahul has added immense value to the organization. I wish him all the success in his future endeavors. I am most certain that with his passion towards the sports and media business; he will continue to contribute towards the industry at large. I also look forward to working closely with Ashish and team, with an aim to drive higher growth in the advertisement revenue segment, as the linear business landscape unlocks more growth opportunities.”
A statement from the company said that this move aligns with the strategic approach that Goenka has undertaken and that the announcement is the first step in the direction of streamlining the organisation which will allow for optimisation of resource allocation and enhanced productivity.
POSTSCRIPT: Seen from this perch, Johri’s departure is just one more indicator that ZEE is setting in motion measure to delink its association with sports.
The big question now is IF the media major will remain associated with UAE’s International League T20. It was in May 2021 that ZEE had bought the media rights of ILT20 for ten years from 2023 to 2032 at a cost of $120 million. The indications appear to point towards ZEE’s exit from the deal sooner rather than later.
