Punit Goenka, the CEO of Zee Entertainment Enterprises Limited’s (ZEEL), finally reveals the continuing issue with the investor Invesco.
He said that it’s good to remain silent but not at the cost of truth. He said he’s not worried about his position in the Company.
He said that the purpose of the current tussle with Invesco is to make the Company even more robust.
He also raised several questions in his statement. “Why didn’t Invesco make its plans public earlier? Does good corporate governance only apply to corporates and not their institutional investors?” he asked.
A few days back, after the union announcement between Sony Pictures Network India(SPNI) and ZEEL, some media houses have been publishing uncertain and hollow reports or giving fake statements to fighting a losing battle against Punit Goenka’s Company.
who is going to become the Cheif Executive Officer(CEO) and Managing Director(MD) of the merged companies.
Statement from the desk of Punit Goenka
Punit Goenka said that he was writing this note to share his views or opinions on the ongoing issue of Invesco.
He said he hoped in the future he did not talk about this issue so that he and his team members could focus more on their value-creation journey at ZEE.
In his speech, he appreciated the Company Invesco for significantly being supportive. But now relationships were going worse with the Company.
To took this Company to such heights, he did a lot of hard work. And the result of this hard work was shown by millions of people every day across our offices.
The journey of ZEE and Punit Goenka said that he was very proud to note the interset from foremost companies in the globe.
Every person who was working in this Company wanted a better future. If the Company was achieving good things, automatically, workers got benefits. But unfortunately, the current situation with Invesco disappoints everyone.
My demeanor is not to indulge in an ill-natured fight. Experts best handle these things. The struggle was to ensure the Company continued to gain utmost growth and opportunities and become a stronger and alarming player in the Media and Entertainment sector.
We should take care of our shares and shareholders and check that nobody can diminish the future of the Company.
We will ensure that no one maligns the intrinsic value for their benefit, and I continue to pursue this in the best interests of all our shareholders and at immense personal costs. In this situation, it is not about one versus the other.
The shareholders and management of a Company are two sides of the same coin. It is all about increasing the value of that coin together for the betterment of all the shareholders and the Company at large.
Under the board’s guidance and in line with the advice sought from our legal counsel, I will continue to take the required steps to safeguard ZEE and its future.
Ultimately, truth is mighty, and I hope that truth and justice that will prevail.
