MUMBAI: At a time when the speculations and concerns about promoter family’s control over Zee Entertainment Enterprises (ZEE), the largest listed entertainment company in India, have pulled down the company’s stock value, Punit Goenka, managing director & CEO has reiterated that he is here to stay and is focussed on the growth of the company.

Goenka, son of ZEE-founder and former chairman Subhash Chandra, wrote an open letter to the shareholders on Friday, sharing his strategic vision for a new version of the company. Titling it as ZEE 4.0, Goenka laid out the future roadmap that hinges on 5Gs – Governance, Granularity, Growth, Goodwill and Gusto.

“The start of this financial year has been a rather special one for me and the entire team at ZEE,” Goenka wrote. “Since for us; it is not just the beginning of another new year, but the beginning of an entirely new life for the Company. The beginning of a company which is transforming in line with its new realities. The beginning of a sharper, leaner, greener version of ZEE. The beginning of ZEE 4.0.”

Tracing the almost three-decade journey of ZEE, from a single channel player to a media and entertainment powerhouse, and classifying three different phases, Goenka stated that ZEE has seen its fair share of ups and downs but it has always adapted, modified and evolved.

He added that the last 18 months have been extremely challenging, with the financial headwinds experienced by the promoter group. “Even amidst this turbulent phase it was business as usual at ZEE. Admittedly, this event did make a dent in our goodwill, leaving us with a few things to think about,” Goenka said.

However, he also cautioned that what got the company so far will not necessarily take it further, if it doesn’t adapt to changes in the ecosystem.

The 5Gs, according to Goenka, will define the future of ZEE.

Going forward, the company will be more transparent and will put in place new policies which will strengthen governance, mitigate risks and safeguard its business interests.

“The focus going forward, will be to build a process oriented structure for the future, achieving the highest levels of automation with zero manual intervention and a prudent approach towards treasury and investments,” Goenka said. “I am here to stay, and remain committed towards ZEE. I have taken this up as a challenge to restore goodwill; not just for me, not just for my family, but for the entire team at ZEE.”

Talking about his father Subhash Chandra’s bold vision, ability to challenge the status quo and intuitions, Goenka said, “I know that many of you might have questioned the steps taken by him in the recent past, but as you know, pioneers see the world through their own eyes. Had it not been for his farsightedness and vision, we would not have been able to create this great company, or millions of jobs or for that matter, immense value for our investors.”

Goenka said he intends to embark on this new journey of ZEE 4.0 with a clean slate, immense learnings from the past and new dreams for the future.