ZEE Board sets higher targets to evaluate performance of Punit Goenka

In continuation to its earlier disclosure dated October 18, 2024 relating to the appointment of Punit Goenka as Managing Director & CEO of Zee Entertainment Enterprises Ltd (ZEEL), the Board of Directors of ZEEL informed the bourses that based on the recommendation of the Nomination & Remuneration Committee, it has considered and approved higher targets to evaluate the performance of Punit Goenka.

• The Board will track the performance of Goenka basis the following targets:
• Quarterly Consolidated Revenue Outlook for the next 4 quarters (commencing Q3 FY2025)
• Quarterly Consolidated EBITDA Outlook for the next 4 quarters (commencing Q3 FY2025)
• Payout of 25% of consolidated net profits as dividend to the shareholders of the Company.

In a BSE filing in October 2024, ZEEL had informed that Punit Goenka had been appointed as Managing Director and CEO for a five-year term, starting January 1, 2025, and ending December 31, 2029. This reappointment is subject to shareholder approval.

Meanwhile, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, based on the recommendation of Nomination & Remuneration Committee, Saurav Adhikari has been appointed as an Additional Director in the category of Non-Executive Director of ZEEL with effect from November 15, 2024.

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