Vikram Chandra, NDTV’s group CEO, has stepped down with immediate effect, the company informed BSE in a notification. Chandra was appointed as CEO in 2011 for 3 years and the post was extended by 2 more years. He will now focus full time on journalism within the company and the TV shows of NDTV. He will remain as consulting editor for NDTV. KVL Narayan Rao, who’s the executive vice chairperson, will take over as group CEO of NDTV.
Chandra was the CEO of NDTV Networks in 2007 and NDTV Convergence in 2008. At the time, he took over the position as previous CEO Sanjay Trehan stepped down. Chandra had multiple important roles within NDTV as CEO NDTV Networks as well as a key news anchor and TV Show host. Before that, he was the head of the business channel NDTV Profit before the channel was launched. Chandra joined NDTV in 1994 and worked on multiple shows of the company.
Recent NDTV developments:
– In August, Mojarto, NDTV ecommerce’s marketplace for art discovery, raised Rs 2.99 crore by way of equity share capital in June, but did not disclose its investors. For the quarter ended June 2016 (Q1 FY17), NDTV’s ecommerce and retail division has reported revenues of Rs 2 crore, down 22.17% from Rs 2.57 crore in the same quarter last year. It also reported a loss of Rs 9.01 crore compared to the loss Rs 10.29 crore in the same quarter last year.
– Two quarters ago, NDTV was considering listing its website ndtv.com and its digital properties as a separate entity, which are operated by its digital subsidiary NDTV Convergence.
– In August last year, Gadgets 360°, a company which houses NDTV Gadgets, raised an undisclosed amount of funding from mobile commerce and payments venture Paytm, Inflexionpoint, Pramod Bhasin (Founder, Genpact), Sixth Sense Ventures (Founded by Nikhil Vora), Vindi Banga (Former Chairman, Unilever), Hiro Mashita (Founder and Director of M&S Partners).
Also read: The Roys exerted complete editorial control throughout NDTV’s existence – The Caravan
