Shareholders vote out Punit Goenka as Zee director

Zee Entertainment Enterprises Ltd’s Punit Goenka on Thursday failed to secure shareholders’ approval to continue as director on the company’s board. However, he will continue as chief executive officer (CEO) of India’s largest media and entertainment conglomerate.

Goenka’s ouster marks an end to his nearly two-decade journey on the board of Zee since he was inducted in January 2005. Significantly, this implies that for the first time since Subhash Chandra founded the company in 1992, none of his family members remain on the board of any of the four listed Zee companies.