Adil Zainulbhai, an independent director on Reliance Industries, was today appointed Chairman of the firm's media outlet, TV18 Broadcast Ltd - the company that owns news channels CNN-IBN and CNBC TV18.
Zainulbhai replaces Manoj Mohanka, who "had expressed his unwillingness to continue as the chairman of the Board of Directors," TV18 Broadcast Ltd said in a regulatory filing.
Mohanka will, however, continue as non-executive independent director on the Board of the company.
Besides Zainulbhai and Mohanka, TV Broadcast board now has Rohit Bansal, a nominee director of the promoters, and Raghav Bahl, the erstwhile owner of the media company.
Meanwhile, in a separate filing, TV18 Broadcast said that it has appointed Deepak Gupta as company secretary and compliance officer with effect from July 22, 2015.
Shares of the company today closed at Rs 37.05 per scrip on BSE, down 12.31 per cent from previous close.
