Shareholders of Zee Entertainment Enterprises Ltd (ZEEL) have overwhelmingly rejected the proposal to reappoint Alicia Yi as an independent director on the company’s board. The special resolution for her reappointment garnered only 42% of votes in favor, while a significant 57.97% voted against it.
In response to the voting outcome, ZEEL issued a regulatory filing late on Thursday, stating, “Based on the votes cast by the members, the special resolution regarding the reappointment of Alicia Yi for a second term of three years as an independent director of the company has failed to receive the necessary number of votes in favor.”
Consequently, Alicia Yi will cease to hold the position of independent director, effective from July 13, 2023, as confirmed by ZEEL.
ZEEL expressed its commitment to ensuring compliance with the Companies Act, 2013, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board will take the necessary steps to maintain an optimal composition of the company’s Board of Directors.
Alicia Yi currently serves as the Vice Chairman, Consumer Market for Korn Ferry, based in Singapore.
Furthermore, ZEEL announced its merger with Culver Max Entertainment, formerly known as Sony Pictures Networks India, in 2021. The merger has already gained approval from stakeholders, creditors, and the fair trade regulator CCI. However, it awaits the final approval from the National Company Law Tribunal (NCLT), which reserved its order on the matter earlier this week.
Denial of responsibility! SamacharCentrl is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Basant Kasayap is an entertainment aficionado who delves into the glitz and glamour of the entertainment industry. From Hollywood to Bollywood to regional cinema, she offers readers an insider’s perspective on the world of movies, music, and pop culture.
