Sudhanshu Vats quits as CEO of Viacom18
PTI, Apr 15, 2020, 8:37 AM IST
Mumbai: The group chief executive and managing director of leading broadcaster Viacom18 Sudhanshu Vats, is leaving the company after eight years at the helm and April 15 will be his last day, the company said in a statement on Tuesday, April 14.
The company, a subsidiary of Reliance Industries-controlled Network18, did not announce a successor nor offered any reason for his resignation.
Sudhanshu Vats said, “It has been an extremely challenging and satisfying 8 years at the helm of Viacom18. I have had the privilege of working with some of the best minds in M&E industry to chart the growth story of Viacom18.”
Under Vats, Viacom18 has expanded its footprint into new businesses of digital, experiential entertainment and consumer products, apart from strengthening its position in Hindi mass entertainment, regional, kids, music and English entertainment.
Under him, the channel has also turned around the film entertainment business with content-led cinema. Over the years, Viacom18 has grown from a six to a 54-channel network, with its video-on-demand platform Voot helping it establish a strong digital presence.
As a part of the Network18 group, Viacom18 has grown as a prominent entertainment broadcaster (ex-sports), with an 11.1 percent viewership share.
Vats leaves behind a strong leadership team that has grown the different verticals into large businesses and they will continue to manage their respective verticals under the leadership of Rahul Joshi, the managing director of the Network18 Group, the statement said.
Adil Zainulbhai, the chairman of the board of Network18 said, “Vats not only has led from the front in shaping up Viacom18’s growth story, but has also championed the cause of the sector at various industry bodies.”
Viacom18 is a joint venture of TV18, which owns 51 per cent, and Viacom Inc with a 49 percent stake.
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