Shankar will hand over charge to Goenka after completing two consecutive tenures as the president of the Foundation.
The Indian Broadcasting Foundation's Board of Directors has elected Punit Goenka, managing director and chief executive officer of Zee Entertainment Enterprises Limited (ZEEL), as the Foundation's president. The decision was taken at the Annual General Meeting (AGM) held today (September 2, 2016) in Delhi, followed by a board meeting.
The IBF Board also elected Rajat Sharma (chairman, India TV), N P Singh (chief executive officer, Sony Pictures Network India), Sudhanshu Vats (Group chief executive officer, Viacom 18), and K Madhavan (managing director, Asianet Communications) as vice-presidents; K V L Narayan Rao (executive vice-chairperson, NDTV) was elected as treasurer of the Foundation for a period of one year.
Speaking on his selection as president, Goenka says in a media statement, "I am delighted to lead the Indian broadcasting sector at a time when there is a lot of churning and India is being looked upon as a global destination for investments. In a continuing effort to make India as a broadcasting superpower, I wish to work in a collaborative manner with the Government, Industry, and other stakeholders for realisation of the sector's value chain to the optimum."
Outgoing IBF president (Uday) Shankar (chairman and chief executive officer, Star India), adds, "I cannot think of a more suitable person than (Punit) Goenka to hand over the leadership of IBF. Over the years, he has eminently helped me in navigating IBF through these volatile times. He is also the primary architect of the Broadcast Audience Research Council (BARC). His intelligence, dynamism and maturity will be great assets for IBF and the Indian media."
Shankar was named president for the first time in 2014, and was re-elected for the post in 2015. He took over charge from Man Jit Singh (then president of Sony Pictures Home Entertainment).