Punit Goenka’s try and retain a management function at Zee Leisure Enterprises confronted a setback as shareholders rejected his reappointment as a Director on the firm’s forty second Annual Common Assembly on November 28.
Goenka, who stepped down as Managing Director earlier this month, attended the AGM and addressed shareholders. In accordance with an change submitting, the proposal to reappoint him as a Director narrowly failed, with 49.54% of votes in favor and 50.46% towards.
This consequence is critical in mild of Goenka’s earlier withdrawal from reappointment as Managing Director, a task he resigned from in November to concentrate on his place as CEO. His determination to formally decline reappointment as MD was a part of a broader restructuring effort geared toward streamlining management and enhancing operational focus throughout the firm.
The corporate additionally permitted a dividend of Re 1 per fairness share for the monetary 12 months ended March 31, 2024 on the AGM.
