MUMBAI:  The Walt Disney Company (TWDC) today announced that Managing Director Ronnie Screwvala will step down on 30th June 2014 and  Siddharth Roy Kapur, currently Managing Director of Disney UTV?s studio?s business, will take over the Company?s India operations.  Siddharth Roy Kapur will become managing director of TWDC India effective 1st January 2014, and Ronnie will assist in the transition until 30th June 2014.

Ronnie, started off as a local cable TV operator in Mumbai with cable TV service under the name ?Network? in 1981. He then went to work with Western Outdoor Studios and then started  UTV Software Communications in 1990 along with Zarina Mehta, and Deven Khote.  It was in February 2012 that the Walt Disney Company acquired a controlling interest in UTV by buying out Screwvala and other shareholders interest and it later even delisted it from the stock market. Since then he has been ranked among the most influential people by several publication right from Time magazine to Esquire and what have you.

Ronnie is throwing an early farewell party tonight for his colleagues at his south Mumbai residence. A well deserved celebration if there ever was one!