Last week, the entire market welcomed with open arms the mega-merger between ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI), but Invesco is still determined to propose a change of ZEEL’s board of directors. .
Invesco does not have a solid proposition or professional experience in the entertainment industry. The big question here is: what is the intention behind Invesco’s decision?
ZEEL’s board of directors has the elite of the entertainment industry, however, Invesco does not have a big name with extensive experience in the media and entertainment industry. Now questions are popping up due to said Invesco proposal.
Let’s take a look at the board proposed by Invesco and the experience of the proposed members: –
Surendra Singh Sirohi
– No previous media experience
– Limited experience in a listed company; now in the HFCL card
– 3 years of experience in Bharat Electronics Board
– Is the experience of the telecoms sector sufficient for ZEEL?
– Was independent director of Jindal Steel for 2 years
– No renewal after the first tenure
– Now independent director in Welspun companies
– Controversy erupted over the presentation of the Commonwealth Games while he was DG Doordarshan
– Private company surveyed production, presentation
– Shunglu committee alleged that she benefited private companies
– Rs 135 cr alleged loss to government
– An IPC, PCA action has been proposed
– ED probed FEMA violation; the parental frame has been sent
– Limited experience with listed companies
-No media and entertainment experience
– No experience of board of directors in a listed company
-Overall, has experience at Analysys Mason as a Managing Partner
– No media and entertainment experience
Srinivasa Rao Addepalli
– No major experience outside the Tata Group; board member nowhere
-Tata is an investor in her edutetech startup Global Gyan
– Ratan Tata is an angel investor in Global Gyan
-No clarity so far on the amount of investment by Ratan Tata
-Most of the projects owned by Global Gyan are from Tata Group
-Many Tata staff have advisory role and faculty role
– Associated with Raine Advisors India Pvt. Ltd.
-No experience in a listed company
– He is a member of the board of directors of the company, which is registered as a broker with the US SEC
Zee Business raises tough questions for Invesco: –
– Where is the media, industry, digital and technology experience of the board members proposed by Invesco?
– Where is the merger, acquisition and approval experience?
– How did Invesco manage to take 6 seats on the board of directors without having 18% of the shares?
– Why does Invesco forget that it is a financial investor and not a strategic investor?
– If Invesco doesn’t have a solid plan, then why does it want to break the ZEEL-Sony mega merger deal?
– Do foreign investors like Invesco want to destabilize an established Indian brand?