MUMBAI: Balaji Telefilms has appointed Jyoti Deshpande as the non-executive additional director. The appointment, which was approved following a circular resolution by its board on 22 March, is in compliance with share subscription agreement entered into between Balaji and Reliance Industries Ltd (RIL) on 22 July 2017.
Deshpande was the head media entertainment (M&E) business as president of the chairman’s office at RIL. The company said Deshpande is not liable for retirement by rotation and accordingly suitable proposal for her continuation will be put up for the approval of the shareholders at the ensuing annual general meeting.
On Thursday, the company had announced that Jyotindra Thacker, non-executive additional director of the company, has tendered his resignation with effect from 22 March due to his other pre-occupations.
In her new role at RIL, Deshpande will lead the company’s initiatives in M&E to organically build and grow businesses around the content ecosystem such as broadcasting, films, sports, music, digital, gaming, animation as well as integrate RIL’s existing media investments such as Viacom18 and Balaji Telefilms with a view to build, scale and consolidate the fragmented $20 billion Indian M&E sector.
Deshpande has over 25 years of experience in media and entertainment across advertising, media consulting, television and film. She has been part of the leadership team of Eros International Plc since 2001 and as Group CEO & MD has spearheaded Eros’ growth as a global leader in Indian filmed entertainment.
Prior to joining Eros in 2001, Deshpande has worked for five years in the field of advertising, media consulting and television with companies such as J Walter Thompson India, Mindshare, Zee TV and B4U. She has a bachelor’s degree in commerce and economics from Mumbai University and a master’s degree in business administration from SPJIMR, Mumbai University.
Shares of Balaji Telefilms were last trading at the Bombay Stock Exchange at Rs 129.05 as compared to the previous close of Rs 127.5. The total number of shares traded during the day was 38934 in over 304 trades.
