Sony wants its own executive as head of merged company instead of Zee’s Punit Goenka

Mumbai: Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET.

Sony Group Corp, especially sensitive to this shadow over the deal given the stringent corporate governance norms in Japan and the US, is said to be pushing for its longstanding India executive, NP Singh, to become the CEO of the merged entity. Goenka is still the subject of a Sebi investigation, despite the recent relief granted by the Securities Appellate Tribunal (SAT).