MUMBAI: Cable TV industry is undergoing major changes and in this wave of change has come a shocker. IndusInd Media & Communications Ltd. (IMCL) managing director Ravi Mansukhani, has stepped down from his position. Mansukhani, who has been associated with IMCL for more than seven years, had earlier expressed the desire to relinquish his services, which was accepted by the board of directors in the board meeting held on 31 January.

“Yes, I have stepped down,” confirmed Mansukhani without commenting further.

The board has now appointed Tony D’silva as IMCL MD and CEO with immediate effect and also approved certain other key management changes. D’silva who is currently the president of Hinduja Ventures Limited (HVL) has also been re-designated as Group CEO- media of HVL. As Group CEO –media and MD and CEO of IMCL, D’silva will hold the responsibility to restructure entire media business and value creation.

It is notable that HVL is restructuring its media vertical in order to enhance synergy across its various media initiatives. And to support this initiative, Rs 300 crore is being invested in the media business.

D’silva has been associated with HVL for the past one and a half years and comes with more than four decades of rich experience spread across media, FMCG and pharma sectors holding senior positions. He has a creditable track record of setting up and scaling up media ventures. D’silva began his media foray in 1992 as Modi Entertainment CEO and in 1997 helped Zee TV launch its international business in UK. Upon his return to India in 2001, he joined Star as executive VP and consolidated its TV business. He joined the Sun Group in 2007 to set up Sun Direct DTH as CEO, and then took over as the Group CEO, overseeing its entire media business including TV, print and radio.