The Board of Directors of Dish TV India Limited (BSE: 532839, NSE: DISHTV, LSE: DTVL) today proposed the appointment of Mr. Manoj Dobhal, the current Chief Operating Officer (COO) of the Company, as the Chief Executive Officer (CEO)-Designate and further advised the Management to seek prior approval, with regard to his appointment, from the Ministry of Information and Broadcasting (MIB) in accordance with the Uplinking Guidelines.
The proposed succession is a result of Mr. Anil Dua's submission to relieve him from his current responsibilities as the Chief Executive Officer of the Company, a position he has held since May 2017. After a successful 6 year stint, Mr. Anil Dua, CEO, Dish TV India Limited, today put forward his request to move on, to the Board of Directors of the Company. Mr. Dua had joined the Company in May 2017, at the foundational juncture of the Dish TV and d2h merger and has been instrumental in steering the Company through the complex merger and post-merger processes.
The Company took on several new initiatives including upgrading its technology backbone under Mr. Dua's leadership. Headend optimization and modernization, introduction of smart devices, unveiling of the Android box and launch of OTT aggregation services being the key amongst them.
Mr. Dua would be at the helm for 3 more months to ensure a smooth transition for Mr. Dobhal who would be the CEO-Designate till the requisite regulatory approval from MIB, for his appointment as CEO is received.
Speaking on his decision to move on, Mr. Anil Dua, said, "It was a tough decision for me considering the new and exciting phase that the Company is in, the efforts put in by the whole Company behind a string of new initiatives and a few tasks yet to be taken to their envisioned completion. However, I am confident that my exceptionally determined team will work with the same passion and commitment that they have always displayed and will, along with Manoj, take Dish TV India to new highs of success. Over the next three months, Manoj and I would be working closely to ensure a smooth and seamless leadership transition."
"I would like to thank the Board for their understanding and accepting my decision to move on. My sincere gratitude to the entire team at Dish TV India Limited and to all our stakeholders for exhibiting trust in me and for standing by the Company and its leadership through thick and thin," added Mr. Dua.
Mr. Manoj Dobhal, in his career spanning 24 years, has worked in various operational and strategic roles at pan India level with brands like Colgate, Dabur, Reliance Communication, Tata Play and IndiaCast Media. Mr. Dobhal is an MBA (PGDBM) from Apeejay Institute of Management, Delhi and an Electronics (Honours) graduate from University of Delhi. In his current role as the COO of the Company, Mr. Dobhal has been providing operational leadership to the organization in sales, distribution, marketing, field service as well as customer engagement and retention.
Mr. Rajeev Dalmia, Chief Financial Officer, Dish TV India Limited, said, "Mr. Dua's calm and focused demeanor added strength to his passion for operational performance and brand building. It would not be a hyperbole to say that perhaps one out of our two key brands would not have been as popular had it not been for Mr. Dua. As seen typically, mergers often sound the death knell for one of the two merging brands. Mr. Dua, however, not only ensured equal growth and top of the mind recall for both Dish TV and d2h brands but has also strengthened the Company with a new, strong brand in the form of Watcho. As a CFO, I have always been supported by Mr. Dua's equally strong commitment towards making the Company debt free and his emphasis on running a tight ship, both of which have helped us in the current extremely competitive operating environment. I wish him the best for his future endeavours."
Mr. Manoj Dobhal, CEO-Designate, Dish TV India Limited, said, "Dish TV India Limited is at the cusp of transition from a pure linear distribution company to an all-round distributor of television and streaming content with an ocean of opportunity ahead. I look forward to making the organization even more agile and come out with compelling & leading edge products to cater to today's integrated technology, media and telecom customers."
Shares of Dish TV India Limited was last trading in BSE at Rs. 14.46 as compared to the previous close of Rs. 14.60. The total number of shares traded during the day was 1534879 in over 2217 trades.
The stock hit an intraday high of Rs. 14.75 and intraday low of 14.23. The net turnover during the day was Rs. 22195451.00.