Network18 Group CEO quits; Jejurikar to join Zee as president

Haresh Chawla, group chief executive officer of Network18, on Thursday put in his papers. And Rajesh Jejurikar, Mahindra & Mahindra's chief executive for the automotive division, will join Zee Entertainment Enterprises (Zee) as president.

Chawla confirmed the development, but did not give any reason for his resignation or say what would be his next move.

He is overseeing a seamless leadership succession plan at Network18, spanning news & entertainment broadcasting, web portals, publications, filmed entertainment and e-commerce operations, and Viacom18.

He is partly responsible for the company's growth from a single business news channel, CNBC-TV18, and solitary portal, Moneycontrol.com, with revenue of Rs 15 crore (Rs 150 million) in 1999, to a diversified media group, with revenue of Rs 2,500 crore (Rs 25 billion) in 2011.

He was instrumental in conceptualising Viacom18, an equal joint venture

with Viacom, and has been credited for the launch and success of the group's general entertainment channel, Colors.

Jejurikar, who will report to Zee chief executive officer and managing director Punit Goenka, is expected to start work by the first week of February.

According to Zee officials, Jejurikar will look after the overall marketing and programming across the network.

"So far, Zee has not had such a role," said an official. Goenka said, "His vast experience in marketing and brand building will add immense value to the organisation."

"After having spent a fulfilling decade at Mahindra, where I have grown and learnt so much, I am happy to be a part of India's pioneering television broadcasting company Zee. The dynamics of the entertainment sector excite me and I look forward to working with the Zee team," he said.

Image: Haresh Chawla (Top)/ Rajesh Jejurikar