Sony Pictures Networks India announced that NP Singh, who had been with the company for 25 years, would step down as the managing director and chief executive officer.
In his statement, Singh shared,
“After almost 44 years in my career, including 25 rewarding years at SPNI, I’ve decided to leave my position as MD and CEO. I now plan to focus on social change and move from operational roles to advisory ones.”
Singh emphasized his continued dedication to SPNI, saying,
“Even though I am stepping down, my commitment to SPNI’s success remains strong. During my time here, we have set industry standards, expanded our reach, and achieved many significant accomplishments. I am committed to ensuring that our legacy of success continues and grows under the new leadership.”
NP Singh Steps Down as CEO of Sony Pictures Networks India
NP Singh Steps Down as MD & CEO of Sony Pictures Networks India after 25 years with the company. However, he will stay in an advisory role and help find his successor.
In his resignation letter, Singh said,
“I will continue to lead SPNI until we find the right person to take over. We have started a structured process to find my successor and hope to share exciting news soon. Finding the right fit is our top priority.”
Sony and Zee in Legal Dispute Over Failed Merger
Sony Pictures Networks India, now known as Culver Max Entertainment Pvt. Ltd., and its entity Bangla Entertainment Pvt. Ltd. (BEPL), have been in the news since ending a $10-billion merger deal with Zee Entertainment Enterprises Limited (ZEEL) in January this year.
Since then, both companies have been involved in legal proceedings to settle their differences. On May 23, Zee sought a termination fee of $90 million (Rs 750 crore) from Sony for canceling the merger.
Sony Group Corporation claimed that ZEEL failed to meet the merger conditions and started arbitration proceedings at the Singapore International Arbitration Centre (SIAC), seeking a termination fee of $90 million (around Rs 748.5 crore). Following the termination notice, shares of ZEEL were trading 2.2 percent higher at Rs 151.80 each on the BSE on May 23.
NP Singh’s Career Journey
Singh started as CFO of Sony India in 1999, became COO, and then rose to CEO in 2019. He is an alumnus of the Delhi School of Economics, where he completed his master’s and holds a bachelor’s degree in commerce from the University of Delhi. He also has a certificate from the Institute of Cost Accountants of India.
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