Update: It's official. We've just received a press release from Disney that Screwvala will step down next year, on 30th June 2014, around 8 months from today. Siddarth Roy Kapur will take over from him as Disney India MD. Roy Kapur will become the MD from 1st January 2014. Screwvala, thus, leaves the company 2.5 years after Disney acquired UTV. A copy of the press release is at the end of this post. Exclusive: Ronnie Screwvala, the Managing Director of Disney UTV is leaving the company, MediaNama has learned from multiple reliable sources within the company. Siddharth Roy Kapur, currently the MD of Disney Studios (Movies) in India, will be taking over from Screwvala as the Disney India MD. A formal announcement is expected soon, and from what we've heard, Andy Bird, the Chairman of Walt Disney International is in India to make that announcement. Attempts at getting in touch with Screwvala and Disney corp-comm have not yielded any response. Screwvala had been made the MD of the Disney-UTV after Disney had acquired UTV, a company he founded. Sources also tell us that Screwvala had a five year lock-in period, following the acquisition, so his early departure does come as a surprise. However, note that other UTV executives who had joined Disney following the acquisition, such as Vishal Gondal, Sameer Bangara and Sameer Pitalwalla, have also left the firm. Post acquisition, Disney had de-listed UTV from the Bombay Stock Exchange, after acquiring its entire public shareholding, and following a restructuring, much of the…
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