Zee Learn ropes in Manish Rastogi for CEO post effective from Feb 24
2 min read . Updated: 24 Feb 2023, 08:53 PM IST
Premium- As per the regulatory filing, Rastogi has been a dynamic and accomplished corporate leader for the last 32 years with rich experience in managing P&L, Strategy, and Marketing across blue-chip companies in different industries.
Zee Learn, the education business of Zee Entertainment, on Wednesday, appointed Manish Rastogi as the Chief Executive Officer (CEO) of the company with effect from February 24, 2023. Rastogi's experience cuts across sectors, as diverse as education, retail, automobiles, and telecom.
As per the regulatory filing, Rastogi has been a dynamic and accomplished corporate leader for the last 32 years with rich experience in managing P&L, Strategy, and Marketing across blue-chip companies in different industries.
He has s led businesses with a P&L responsibility at large, professional organizations. Also, Manish has worked in senior leadership roles with major companies like Honda Cars, Bharti Airtel, Tata Motors, and Metro Cash & Carry India.
In his last assignment, he held the position of Chief Executive Officer with the Vibgyor Group of Schools.
He holds a PGDM from the Institute of Management (IIM), Calcutta with a specialization in Marketing & Finance, and a B.Tech degree from the Indian Institute of Technology (IIT), Delhi.
Last week, Zee Learn's board came out of suspension after NCLAT set aside the NCLT Mumbai order which allowed private lender Yes Bank's petition to admit the company for insolvency resolution.
However, also on February 16, Zee Learn's Whole-Time Director and Chief Executive Officer, Ritesh Handa resigned due to personal reasons.
On BSE, Zee Learn stocks slipped by 4.81% to end at ₹2.97 apiece. Zee stocks are under pressure after parent Zee Entertainment was admitted into insolvency proceedings.
Earlier this week, the NCLT Mumbai bench admitted an insolvency petition Zee Entertainment Enterprises filed by its financial creditor IndusInd Bank, under Section 7 of the Insolvency and Bankruptcy Code (IBC). On Friday, NCLAT stayed the insolvency proceedings that the bankruptcy court ordered.
Siti Networks (a sister concern of ZEEL) had taken a loan from IndusInd bank wherein ZEEL stood as a guarantor. Since Siti Networks was unable to pay, IndusInd bank invoked the guarantee and made ZEE a party to it. The amount under consideration is Rs831 million. Apart from IndusInd bank, ZEE is said to have contingent claims from two more entities that are still under dispute.