Television

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

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/03/11/Flash.jpg?itok=4um84q9v

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

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/29/dsports.jpg?itok=R_14iwNS
Discovery India gets favourable order from Delhi High Court on DSport

How times change. It was hardly a couple of years ago, that  Discovery Communications International Networks (DCIN) LLC, Discovery Networks Asia Pacific (DNAP) and Discovery Communications India (DCI) were all bum-chummy with the former Dish TV India CEO and ESPN India managing director R...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/29/1Sports.jpg?itok=5gxTktJH
Lex Sportel Vision announces launch of 1Sports in India

Gurgaon based Lex Sportel Vision, announced the launch of its sports programming repertoire on its channel 1Sports – a premium sports channel offering for the Indian sports fans. 1Sports will continue bringing to the Indian audience a bouquet of high-quality sporting action with the best quality...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/29/chrom.jpg?itok=xF3eGO4P
Sports genre becomes top gainer in Chrome DM week 3

Sports genre has become the top gainer in week 3, 2020 of Chrome Data Analytics and Media data. The genre grew by 8.48 per cent. In this genre, DD Sports channel gained the highest OTS with 98.4 per cent in all India 1 lakh+ market.

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/29/et-now.jpg?itok=IeSjlAQY
ET NOW unveils programming line-up for union budget 2020

ET NOW, India’s leading English Business News channel has announced an exclusive programming line-up in the run-up to union budget 2020. With the theme ‘Get, Set, Grow’, ET NOW offers viewers a comprehensive insight on union budget 2020, covering all critical elements of the Budget from a consumer...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/29/Siju-Prabhakaran.jpg?itok=bkSECHKV
Zee Thirai to fulfil demand for content and star-driven movies

Zee has covered most of the regional space with its GEC and movie channels. With the launch of Zee Thirai it strengthened its footprint in the southern market.

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/28/hishtorytv18.jpg?itok=oEdu-Knq
HistoryTV18 showcases the largest human gathering on earth, in a spectacular new original,‘Kumbh: Among the Seekers’

MUMBAI: Adding to its rich offering of Indian originals, HistoryTV18 presents a one-hour special about the world’s most spectacular human gathering, the Kumbh Mela. The incredible festival is widely known to be the largest peaceful gathering on the planet. According to official estimates, a...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/28/oscar.jpg?itok=HKyRv9bj
The 92nd academy awards To air on Star Movies and Star Movies Select HD on 10 Feb

MUMBAI: Oscar season is officially underway and Star movies is all set to bring you the most awaited award show in the world, the 92nd Oscars on 10 Feb, 2020. It will be aired simultaneously on Star Movies and Star Movies Select HD. The channel has been the official home of the Oscars® in India for...

Television TV Shows Awards
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/28/99.jpg?itok=QKPcINlO
Millennials seek local and purpose-driven content on TV and OTT

Seventy-one per cent of youth in our country are inspired by content. The number has moved from 58.4 per cent in 2016 to 71 per cent in 2018, revealed a new study by MTV Insights Studios ‘Mera Bharat Amazeballs’. Millennials are digital natives and they seek content beyond the confines of...

Television TV Channels Music and Youth
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/28/2.jpg?itok=Hd3kXVNF
Industry’s expectation from union budget 2020

Amid ongoing economic tension in the country, finance Minister Nirmala Sitharaman is all set to present her second Union Budget on 1 February 2020.

Television TV Channels GECs

Sign up for our Newsletter

subscribe for latest stories