Television

Top-level changes at Shop CJ; CEO Kenny Shin to head back to Korea

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/03/11/Flash.jpg?itok=8A78Nv3e

MUMBAI: Home shopping ain't an easy business. Definitely not in India. Ask Shop CJ CEO Kenny Shin. The South Korean is slated to catch a flight back to his home country very soon after serving four years and one month at the joint venture between the South Korean home shopping major CJ O Shopping and P5 Asia Holding Investments (Mauritius) Ltd (which belongs to the Providence Equity Partners group). 

Shin calls his movement back to South Korea a routine transfer. "This is something which happens  with our South Korean parent," he told indiantelevision.com late on the night of 11 March. "We are rotated around in our various operations world wide."

A source, however, had informed indiantelevision.com earlier in the day that Shin was actually shown the door by the company's board. Along with him, the company CFO Ramakrishnan N was also asked to quit.

"After reviewing last year's performance during its board meeting today, the company has decided to sack two senior officials for having a non-performing year," the source told us. "Its performance has fallen 32 per cent compared to last year."

However, Shin repeatedly denied that anyone was being booted out. "It is a routine transfer, that is all it is. No decision has been taken about our CFO as yet," he stated. "We will be issuing an official statement tomorrow."

Indiantelevision.com, however,  managed to get hold of the official communication circulated to Shop CJ employees which has something else to say:  "Mr. N. Ramakrishnan (Ram) has decided to step down as CFO of the Company to pursue other interests. While as CFO, Ram helped the Company establish effective financial systems and controls, and we thank him for his leadership and contribution to the Company, and wish him the best in his future endeavors. The Board has initiated a search to fill the role of CFO for ShopCJ. The changes above are effective immediately."

Shin joined the company in February 2012, from CJ O Shopping, the Korean conglomerate, where he was in a key leadership role, having been with the company since 2002.

Company officials, however, reached out to indiantelevision.com once again in late May 2016 insisting that there was no sacking at all in March. A senior official stated that Ramakrishnan's departure was entirely his decision and Shin's return to South Korea was simply routine in the larger scheme of CJ O Shopping's management initiatives.

Shop CJ was earlier a joint venture between CJ and broadcast giant Star India. The latter moved out of the partnership and from the home shopping business and in 2015 the channel was re-branded as Shop CJ.

(Earlier posted on 11 March 2016 at 7:43; updated at 11:50 pm; updated on 31 May 2016 at 12:43 am)

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/Network18_800.jpg?itok=GFctpNpK
Network18 reports improved numbers for Q2 FY19

Mukesh Dhirubhai Ambani’s media arm, Network18, reported improved numbers for the quarter ended 30 September 2018 (Q2 2019, quarter under review) as compared to the corresponding year ago quarter Q2 2018). The company reported 9 per cent y-o-y growth in consolidated revenue for Q2 2019 at Rs 1,237...

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/media_0.jpg?itok=uJ3zJdcx
ZMCL reports more than quadruple profit for second quarter

The company’s consolidated operating revenue increased 35.5 per cent y-o-y in Q2 2019 at Rs 168.66 crore as compared to Rs 124.51 crore in the year ago quarter. Total income increased 34.7 per cent y-o-y in Q2 2019 to Rs 170.66 crore from Rs 126.71 crore in Q2 2018.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/wire.jpg?itok=rcsQVpJx
Eros Now Partners with Celcom; Consolidates Distribution in Malaysia

Eros International Plc (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, its digital over-the-top distribution service

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/v.jpg?itok=sGu6lo2Z
TV Today Network subsidiary receives IT demand notices

TV Today Network Limited (TVTN) has informed the bourses that its wholly owned non-material subsidiary India Today Online Private Limited (ITOPL) has received separate demand notices from the Income Tax department.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/bbc.jpg?itok=qIYwGGq9
BBC Studios India and Mindshare’s I Can You Can wins two Silvers - Best Branded Content and Best Media Strategy at the Emvies 2018

BBC Studios India and Mindshare, India’s largest media agency, announced that it has won two Silvers at EMVIES 2018

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/HOP.jpg?itok=lvLK36Q0
NDTV launches India’s first mobile-only portrait live channel

New Delhi Television Ltd (NDTV) has launched India’s first mobile-only vertical live channel with the name NDTV HOP Live. India has nearly 432 million internet users and this number is growing at a rate of 4-8 per cent, according to Deloitte’s Technology, Media and Telecommunication (TMT)...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/times.jpg?itok=DGAvKOg1
Movies NOW, Romedy NOW and MNX celebrates this festive season with a special programming line-up

Celebrating the spirit of this festive season, Times Network's English Entertainment channels

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/discovery.jpg?itok=6Fa3Bavl
Running Wild with Bear Grylls’ on Discovery channel gets extraordinary traction from advertisers

The premiere of new series Running Wild with Bear Grylls on Discovery and Discovery World HD

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/colors.jpg?itok=TXA_pJ9H
Woh Talent Hi Kya Jo Kisi Ke Kaam Na Aaye; COLORS Announces the Launch of India’s Got Talent

Don’t let talent go to waste advocates COLORS’ flagship reality show – Maruti Suzuki Arena presents India’s Got Talent powered by Vaseline and Frooti as it returns to wow viewers with some mind-boggling acts in its eighth edition.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories