11 OCTOBER 2021 11:02 IST | ENGLISH | MONEY & FINANCES | GENERAL AUDIENCE

In a letter to shareholders, Invesco says disappointed with Zee board

Invesco Developing Markets Fund, the largest shareholder of Zee Entertainment Enterprises Ltd with almost 18% stake in the company, today released a letter to Zee shareholders saying there is an urgent need to strengthen independence at Zee board.

“We are disappointed that the leadership of Zee has resorted to a reckless public relations campaign in response to the overwhelming demand fr shareholders for leadership changes at Zee, ” said Justin Leverenz, chief investment officee, Developing Market Equities.

This comes amid the ongoing tussle between Zee and Invesco, with Invesco seeking an EGM to remove Punit Goenka, MD and CEO from Zee board.

Invesco said that it is resolved to pursue extraordinary general meeting to hold the board and management accountable and effect necessary change at Zee.

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