CFO Resignation: On June 19th, Zee Entertainment’s CFO, Rohit Kumar Gupta, stepped down for personal reasons.
Stock Price Decline:
This news, coupled with other recent executive departures, has caused Zee Entertainment’s shares to trade 1.6% lower on the National Stock Exchange (NSE).
Year-to-Date Performance: Zee Entertainment’s stock price has fallen significantly this year, down a total of 44.66% compared to the benchmark Nifty 50 index.
Acting CFO Appointed: To ensure some continuity, the company has appointed Mukund Galgali, a 17-year company veteran leading commercial and strategic initiatives, as the acting CFO.
Investors are likely concerned about the CFO departure and the overall leadership situation at Zee Entertainment. This is reflected in the stock price decline.