Mumbai, April 14 Sudhanshu Vats, Group CEO and MD of Viacom18, has announced his resignation from the company.
Vats will be serving at Viacom18 till April 15, 2020. In a statement, the company said that Vats decided to move on from the subsidiary of Network 18 after eight year at the helm.
"During his years at the company, Vats expanded the media network's footprint into new business lines of digital, experiential entertainment and consumer products. He also strengthened Viacom18's position in Hindi mass entertainment, regional, kids, music & English entertainment and turned around the filmed entertainment business with content-led cinema," it said.
Viacom18 has grown from a six to a 54-channel network with its video-on-demand platform, Voot, helping it establish a strong digital presence.
The statement said that Viacom18 has grown as a prominent entertainment broadcaster, with an 11.1 per cent viewership share and is poised for accelerated growth in broadcasting, film studio and OTT (over the top) offerings.
"Vats leaves behind a strong leadership team which has grown the different verticals of the company into large businesses and they will continue to manage their respective verticals under the leadership of Rahul Joshi, Managing Director of the Network18 Group," it said.
Speaking on the development, Adil Zainulbhai, Chairman of the Board, Network18 said, "Sudhanshu is a dynamic and admired leader in corporate India today. Not only has he led from the front in shaping up Viacom18's growth story, he has also championed the cause of the sector at the various industry bodies that he has captained."
Zainulbhai also said that while it is sad to lose him, it is equally reassuring to know that the company has a strong second line that's raring to go.
Speaking about his journey at Viacom18, Sudhanshu Vats said: "We have together built one of the most admired media companies of brilliant storytellers with diversified presence across screens and platforms.
"As I look forward to taking up newer challenges, I shall always cherish the learnings in leading India's youngest and fastest-growing media and entertainment company."
( With inputs from IANS )