Sony looking at own exec to head merged entity: Report
As per the report, the Sony administration is wary of the implications of Sebi’s lens on Punit Goenka due to stringent corporate governance rules in Japan and the US
Sony Group is keen to place its India CEO NP Singh as the Chief Executive Officer of the merged Zee-Sony entity, a media network has reported.
As per the report, the Sony administration is wary of the implications of Sebi’s lens on Punit Goenka due to the stringent corporate governance rules in Japan and the US. Sony is headquartered in Japan.
The MD and CEO of ZEEL recently received a reprieve from the Securities Appellate Tribunal as it set aside Sebi's directive that barred him from holding managerial posts in Zee and any of its merged entities, in connection to a fund-diversion case.
Meanwhile, it was reported earlier this week that Sebi may move the Supreme Court against SAT's relief to Goenka.
Sony considering its own is likely to have implications on the merger deal as Goenka's nomination as MD and CEO of the merged entity was a necessary condition for the deal, the report says.
