In a significant development, B Sai Kumar, group CEO of Network18, has resigned.
A couple of days ago, afaqs! reported that Avinash Kaul, erstwhile CEO of Times Now, ET Now and Zoom, would join IBN18 Network as CEO. Kaul will manage CNN-IBN, IBN7 and IBN Lokmat.
Raghav Bahl, founder and editor of Network18, mentions that Kumar was one of the key pillars of the Network18 group. "It's not easy to describe Sai's role and contribution to the group. I am truly privileged to have been able to work with someone like Sai who has, I dare say, given the prime of his life to the growth and development of our baby called Network18, right from the days when it was a fledgling single channel operation to its evolution as one of India's largest, most diversified and respected media companies. Needless to say, the Network18 family and I shall miss him dearly. But there comes a time in life when one takes a heed to one's calling and I wish Sai all the best for that."
On his journey with Network18, Kumar adds, "Network18 has been an extension of my family. I take with me very good memories and I will always cherish the time spent here. It has been a tremendous learning ground and I thank all my colleagues for the support, passion and hard work they brought to work every day. While all good things come to an end, I see it as a new beginning and I am positive and hopeful that Network18 scales new heights from here on."
Kumar started his career with the group in sales. Over the years, he was responsible for the creation and management of the group's various ventures - from the business news network in partnership with CNBC, to general news in partnership with CNN, and the group's entertainment foray in partnership with Viacom, the infotainment play with A+E Networks, besides leading Network18's digital forays.
He also helped set up the group's distribution foray - Indiacast - in partnership with Viacom. He was on the board of the group's various joint ventures and will step down from all the boards, too. In his role as group CEO, Kumar charted the company's business turnaround and return to profitability, the company says in an official communiqué.
Before joining the Network18 Group in 2000, Kumar was with the Times of India Group, where he worked with Times Music and Times FM.