IiAS and InGovern Recommend Investors Reject Zee CEO Punit Goenka's Candidature

Mumbai, India (November 18, 2024): Investor watchdog groups IiAS and InGovern have issued a joint recommendation to reject the candidature of Punit Goenka, the current CEO of ZEE Media, from taking over as the new chairman of the company.

According to sources close to the matter, IiAS and InGovern expressed concerns about Goenka's handling of ZEE Media's financial crisis in the past, citing an alleged lack of transparency and accountability. The two watchdog groups have been scrutinizing Goenka's governance track record at ZEE Media, a leading Indian media conglomerate.

The recommendations come amidst renewed calls for greater oversight and accountability in corporate governance following recent high-profile corporate scandals. ZEE Media has been undergoing significant changes in recent months, including a strategic acquisition by Reliance Industries.

As the debate over Goenka's eligibility to lead Zee continues to gain traction, investors and regulators are keeping a close eye on this development, highlighting the importance of strong corporate governance for maintaining market confidence.

The matter is currently being reviewed by the ZEE Board of Directors. No official statement has been issued by ZEE Media so far regarding Goenka's candidature as their new chairman.

This story is developing and further updates will be provided once more information becomes available.