Zee Media rejigs organisation; segregates channels into three Clusters
In a move to drive growth and increasing operational efficiency and effectiveness, Zee Media Corporation Ltd (ZMCL) has effected key changes in its organisational structure.
In an internal mail, Punit Goenka, Chairman of the Board, informed that in order to bring effective controls, the Group has segregated the channels into three Clusters – Cluster 1, 2 and 3.
CEO Cluster 1 will be Sudhir Chaudhary, who will be responsible for Zee News, Zee Business, WION, Zee 24 Taas, DNA Newspaper (Editorial only), IMN and related digital properties (Editorial Only).
CEO Cluster 2 will be Purushottam Vaishnava, who will be responsible for Zee Hindustan, Zee Rajasthan, Zee Bihar Jharkhand, Zee Odhisha, Zee 24 Kalak, Zee 24 Ghanta and related digital properties (Editorial Only).
CEO Cluster 3 will be Dileep Kumar Tiwari, who will be responsible for Zee MP-CG, Zee UP-UK, Zee Salaam, Zee PHH and related digital properties (Editorial Only).
CEO Digital will be Rohit Chaddha, who will be responsible for India.com, Technology & Product, Digital Sales & Marketing for all digital properties of Publishing business. He will, as of now, be reporting into Amit Goenka.
Moreover, a new position of Group CEO has been created and all the Cluster CEOs will be reporting to him/her.
This apart, the COO will have five department heads reporting on to him. These include, CTO Vijayant Kumar, CFO Sumit Kapoor, Head of HR Ruchira Srivastava, Head of Events Jaswinder Sing and Head of Distribution Hemlata Sharma.
“This is a very critical time for us to realise our dreams,” Punit Goenka stressed. He also added, “It is imperative that we stay forever in sync with our audience. As they evolve, so must our organisation, strategies and structures keeping us responsive to the need of various markets. But even more important is to continuously build a leadership strength that is growth oriented, agile and committed to building strong organisation capability themselves.”
He emphasised, “Driving growth remains at the heart of our business objectives – Growth that is Consistent, Sustainable, Profitable and Competitive. Consistency and sustainability implies continuing our great track record for years to come.”
As reported earlier, ZMCL reported consolidated revenues of Rs 2,006.6 million for first quarter of fiscal 2020, a growth of 29.7 per cent over Rs 1,546.9 million in Q1 FY2019. Advertising revenue for Q1 FY2020 grew by 35.7 per cent to Rs 1,859 million.
Operating profit for Q1 FY2020 grew by 83.6 per cent over Q1 FY2019 to Rs 658.8 million. EBITDA for Q1 FY2020 grew by 83.6 per cent to Rs 658.8 million from Rs 358.8 million for the corresponding period last financial year. EBITDA margin grew from 23.2 per cent in Q1 FY2019 to 32.8 per cent in Q1 FY2020.