The following is the full text of the press release issued by Network 18 of leadership changes at the group’s flagship channel, CNBC-TV18.
This comes just a few weeks after four Forbes India editors were forced out of the group.
Insiders say there is more coming as new owner Reliance Industries (RIL) seeks to stamp its footprint. Already, the word is one top interviewer is unhappy with the renegotiation of the terms of his contract.
NETWORK18 ANNOUNCES CHANGE OF GUARD AT CNBC-TV18
“Udayan steps down as Managing Editor, to continue exclusive association with CNBC-TV18 in a new role. Shereen Bhan takes charge of editorial operations from Udayan as Managing Editor”
Udayan Mukherjee, managing editor, CNBC-TV18 has decided to step down from his full time role, after 15 years of service with the group.
The reasons for this change are entirely personal. Udayan has been facing issues of professional exhaustion and wants to devote more time to other pursuits of personal interest.
However, he will continue his exclusive association with the group, albeit in a contributory and consulting role, through a mix of events, shows and appearances, even as he relinquishes his daily responsibilities.
Shereen Bhan, executive editor, CNBC-TV18 will take over responsibility of the day to day running of the channel as its new Managing Editor from September 1, 2013.
Speaking on this development, Raghav Bahl, founder & editor, Network18 said: “Udayan has contributed to the emergence of CNBC-TV18 as a benchmark in business news since its formative years. He has ably led the team to many successes and we wish him the very best in his new avatar at CNBC-TV18. Shereen has all the skills and experience to take this mantle forward and we look forward to her leadership”
B. Sai Kumar, group CEO, Network18 said: “Udayan has been instrumental in making CNBC-TV18 the success it is today. We thank him for his invaluable contribution and look forward to his new role with us. In Shereen we entrust the task of leading CNBC-TV18 onto new levels of growth and leadership.”
Udayan Mukherjee said: “I have had a rewarding and enriching 15 year stint with Network 18, but of late the responsibility of running the channel had become repetitive and I had a difficult time motivating myself to continue. At this stage of my life, I need to devote more of my time to other personal passions and interests. CNBC-TV18 has a very talented team in place which will ensure that the channel’s high standards are maintained in the future. I wish the new editorial leadership team the very best and will try, in my limited way, to contribute to its success”
Photograph: courtesy Verve Online