MUMBAI: There’s top management restructuring at the troubled news broadcaster NDTV group. The company has been at the receiving end with the income tax authorities for the past few years following "unjustifiable' tax claims being imposed on it. And rumours have been abounding about its acquisition by other parties. Late October , the Securities Exchange Board of India cleared them of charges related to delayed financial results disclosures at the end of financial year 2011-2012.
The vacuum at the top – following the passing away of CEO KVL Naryan Rao – has been filled. The Prannoy Roy-Radhika Roy promoted company has moved NDTV Convergence Ltd CEO Suparna Singh to the corner office, managing the entire group as of 4 December 2017. The company's website says that she " as been with NDTV for 25 years and has the highest-level experience in all aspects of NDTV functions: editorial in both broadcast TV and internet, revenue and cost management. She has helped NDTV create and run a major new property in NDTV Convergence, which is internationally recognised. It is and has always been a profitable venture."
The group’s director finance and group CFO Saurav Banerjee has been elevated to co-CEO. According to the NDTV website, "as part of his role as Co-CEO, Saurav works closely with the CEO in looking at operations and oversees financial planning, taxation, legal and compliances. Widely respected across the financial world, Saurav has been involved in raising finances, capital restructuring, mergers & acquisitions and statutory compliances with more than a decade of service with the company."
Ravi Asawa is stepping into his shoes as group CFO, NDTV. Ravi has rich experience in corporate finance, mergers and acquisitions, treasury, corporate governance and financial processes across multiple knowledge domains like media, IT services, eCom and manufacturing industries. He is a finance professional with more than two decades of experience and has been the strategic backbone of the NDTV Group Finance team for more than nine years.
The announcement was made to the Bombay stock exchange following the go-ahead at a board meeting earlier today.
Also Read: http://www.indiantelevision.com/television/tv-channels/news-broadcasting/spicejets-ajay-singh-may-take-control-of-ndtv-170922
http://www.indiantelevision.com/television/tv-channels/news-broadcasting/ndtv-profit-to-be-shut-down-to-move-business-finance-segments-on-ndtv-24x7-170602
http://www.indiantelevision.com/television/tv-channels/people/ndtv-s-kvl-narayan-rao-passes-away-171120
http://www.indiantelevision.com/television/tv-channels/people/obit-in-memory-of-kvl-narayan-rao-171121
http://www.indiantelevision.com/television/tv-channels/news-broadcasting/ndtv-promoters-get-clean-by-sebi-chit-in-disclosure-case-171025
