(2 December 2005 9:00 pm)

MUMBAI: Having strengthened the executive management team, Zee Telefilms Ltd CMD Subhash Chandra has decided to relinquish the position of managing director.

Chandra's decision to exit as MD comes a year after Pradeep Guha was appointed as Zee Telefilms CEO. Also, Punit Goenka (son of Chandra) and Laxmi N Goel (brother of Chandra) were appointed as Whole-time Directors early this year.

"In view of the strengthening of the executive management by the appointment of Whole-time Directors and the CEO, Chandra has relinquished his office of managing director," Zee Telefilms today informed the BSE.

S P Talwar, one of the non-executive independent directors, has resigned as director due to personal reasons, Zee said.

A couple of years back, Chandra had decided to run the company at the operational level as well after the exit of Zee Telefilms CEO Sandeep Goyal. During that period he also brought back his brothers Jawahar and Laxmi Goel to manage Siticable and news businesses of Zee.