Punit Goenka out of Zee board as shareholders block reappointment, CEO role secured

The shareholders of Zee Entertainment Enterprises Ltd have blocked the reappointment of Punit Goenka as a director on its board.

Goenka will continue as the company’s CEO, a position he will hold till 2029.

It was the retail shareholders of Zee who tipped the scale against Goenka, with more than 88 per cent voting against the proposal.

While the appointment of a director is cleared by the shareholders, a CEO is appointed by the board and it is not necessary that only a director can hold this post.