Mumbai: NP Singh, managing director and chief executive officer of Sony Pictures Networks India (SPNI), will step down from his post but remain with the company till it finds his successor.
In an internal mail to employees, Singh said, “After nearly 44 years in my career, including a rewarding 25-year tenure at SPNI, I have decided to move on from my role as MD and CEO. Having reached many significant milestones with our team, I am now ready to focus on social change and shift from operational roles to advisory ones.”
He said the company has begun a structured succession planning process to find his successor and “hope to have exciting news to share” in the near future.
“Finding the right fit is our top priority,” he wrote.
A long-time Sony employee, Singh had joined the company in June 1999 as its chief financial officer and was subsequently elevated to the position of COO in 2004 and MD and CEO in 2014.
He further said his commitment to Sony and its success remains strong. “During my time here, we have established industry benchmarks, expanded our reach, and achieved many noteworthy accomplishments. I am dedicated to ensuring our legacy of success continues and grows under the new leadership.”
He also urged employees not to speculate and rely only on official updates. “We are committed to sharing timely and transparent information through our established channels and will communicate any definitive updates directly,” he wrote.
Earlier this year, SPNI and Zee Entertainment Enterprises terminated a merger agreement, which was signed two years back.
On 22 January, Sony Group Corp., the Japanese parent company of Sony Pictures Networks India (SPNI), which is now called Culver Max Entertainment, and Bangla Entertainment Pvt. Ltd (BEPL), had announced the termination of the $10-billion merger agreement with Zee Entertainment while seeking $90 million for breach of conditions besides initiating arbitration.
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Published: 24 May 2024, 10:53 AM IST
