Subhash Chandra Hints At Retirement; Succession Under Spotlight


In an interview to CNBC TV18 that Mint carried today, Essel Group chairman Subhash Chandra said he might surprise people by retiring early. Chandra, a pioneering entrepreneur in India’s satellite television industry, is 58 years old. His Essel Group has interests spanning television broadcasting, newspaper publishing and direct-to-home service, among others.

His son Punit Goenka heads Zee Entertainment Enterprises Ltd, the group’s flagship media firm. His brothers Jawahar Goel and Laxmi Narain Goel are also involved in running the group’s businesses. His successor as chairman of the group will be from the generation of his sons, Chandra said in the interview.

Chandra and Goenka says in the interview that Zee will launch a golf channel and two high definition movie channels–one each in English and Hindi. Goenka also said the company will start working on launching a general news channel in English in the next fiscal.

The ZEEL scrip was trading flat at the Bombay Stock Exchange, where the benchmark Sensex was trading up by nearly 1%.

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