Vineet Singh Hukmani, MD, CEO and Shareholder Director in Next Radio Ltd that operates Radio One, has decided to step down from his board and operating responsibilities.
As reported earlier, a scheme of arrangement between HT Media and Next Mediaworks ( the parent company of Next Radio Ltd â€“ 94.3 Radio One) was underway and pending approval from the Ministry of Information and Broadcasting and SEBI. With these approvals having been obtained, HT Media Ltd has now secured majority control of these entities as communicated in the board meeting of Next Radio Ltd held on April 18, 2019.
Tarique Ansari, Chairman, Next Mediaworks, said, "In continuation of the proposed Scheme of Arrangement between HT Media and Next Mediaworks Ltd, and following clearance from the Ministry of Information and Broadcasting and SEBI, Vineet has decided to step down from his board and operating responsibilities. The Board and Management of Next Mediaworks would like to place on record our appreciation of his sterling 12-year tenure and performance record in building a valuable FM radio business and wish him well in his future endeavours."
Hukmani said, "I am extremely satisified both as a board member and an operating head with the highly differentiated and valuable FM radio business we have built over the last 12 years. I would like to thank our chairman Tarique Ansari, our CFO Ismail Dabhoya, fellow board members and outstanding Radio One team members for the faith placed in me all these years. I wish our operating teams much success. On future plans, there is something exciting on the horizon and I will be happy to reveal the same when the time is appropriate."