afaqs!

Peter Mukerjea and Indrani Mukerjea to step down at INX Media

By afaqs! news bureau , afaqs!, New Delhi | In Media Publishing | March 12, 2009
Both Peter and Indrani will step down from the management positions they held in the company, but will continue to hold their respective stakes in the company

Indrani Mukerjea and Peter Mukerjea have decided to step down from the management roles at INX Media.

Indrani held the position of CEO, INX Media, and Peter was the chairman and chief strategy officer of the company.

Late on Tuesday evening, the Mukerjeas announced in a press statement that they have discussed the same with the other shareholders and have requested them to make arrangements for the transition.

& #BANNER1 & #For Indrani, her last working day will be April 30, while Peter will make an exit by the end of this month.

However, both Peter and Indrani will continue to hold their respective stakes in the company.

INX Network had two divisions, INX Media (9X and 9XM, the music channel) and INX News (made up of the news channel). Recently, INX News was sold to Indi Media, formed by two media veterans, Vinay Chhajlani, one of the promoters of NaiDunia, the Indore based Hindi daily, and Jehangir Pocha, former editor of Businessworld magazine.

The Mukerjeas together hold a 50 per cent stake in INX Media. The remaining stake is held by private equity firms such as Temasek Holdings, New Silk Route and New Vernon Private Equity.

The UK-born Pratim Mukerjea - or Peter was earlier CEO of STAR India Pvt. Ltd. He has been the quintessential marketing man - having started out with Heinz in UK, followed by stints with the British Store House (a retailer) and ad agencies O&M (UK office), DDB Needham (Hong Kong office) before joining STAR India.