Subhash Chandra steps down as director and non-executive chairman of Zee Media

The chairman of the Essel Group of companies Subhash Chandra has resigned from the post of director and non-executive chairman of Zee Media Corporation Limited (ZMCL).

ZMCL has informed the Bombay Stock Exchange (BSE) that the Board of Directors of the company at its meeting held on May 24, 2016, inter alia, took on record the resignation of (Subhash) Chandra as director and non-executive chairman of the company with effect from May 24, 2016.

In the statement issued to BSE, the company further mentions, "Based on the recommendations of the Nomination and Remuneration Committee, the company has approved the appointment of R K Arora, CEO, as an additional director, and upon such appointment, his appointment as an executive director and CEO of the company for a period of three years with effect from May 24, 2016."

ZMCL has under it the entire media bouquet of Zee which includes channels such as Zee News, Zee Business, India 24x7, Zee Punjab Haryana Himachal, Zee Madhya Pradesh Chhattisgarh, Zee 24 Taas, 24 Ghanta, Zee Kalinga News, Zee Purvaiya, and Zee Rajasthan News.