NP Singh to move on as MD & CEO of Sony Pictures Networks India, asks firm to find a successor (Ld)

New Delhi, May 24 (SocialNews.XYZ) N.P. Singh, Managing Director and CEO of Sony Pictures Networks India (SPNI), has stepped down after 25 years at the company and will move into an advisory role at the company.

"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," Singh said in an internal email to employees.

He will focus on social change and shift from operational roles to advisory ones.

Singh mentioned that during his time at SPNI, the company established industry benchmarks, expanded reach, and achieved many noteworthy accomplishments.

"I am dedicated to ensuring our legacy of success continues and grows under the new leadership," he added.

The company has begun "structured succession planning process to find his successor" and hopes to have "exciting news to share" in the near future.

Singh said that finding the right fit "is our top priority" and he will continue to lead SPNI until "we find the right person to take over".

He joined the company in June 1999 as CFO, and was elevated to the position of COO in 2004 and MD and CEO in 2014.

SPNI and Zee Entertainment Enterprises terminated a merger agreement earlier this year.

In January, Sony Group, the Japanese parent company of Sony Pictures Networks India (SPNI), which is now called Culver Max Entertainment, and Bangla Entertainment Pvt. Ltd (BEPL), terminated the $10 billion merger agreement with Zee Entertainment.

Sony also invoked arbitration against the company and sought emergency interim reliefs against the company.

ZEEL had categorically denied all the assertions raised by Culver Max and BEPL on the alleged breaches under the terms of the MCA, including their claims for the termination fee.

Source: IANS