Balaji Telefilms Ltd.'s Sameer Nair will step down from the post of group chief executive officer (CEO) with effect from July 15.
Nair has completed his three-year term as the group CEO of the Mumbai-based production firm. He was formerly in an advisory role with the production house and will return to an advisory capacity, the company said in an exchange filing.
The management teams are in place and the company is well poised for its next phase of growth. I remain a mentor and guide to the company.Sameer Nair, Outgoing Group CEO, Balaji Telefilms
Shares of the company fell as much as 5.46 percent, the most in eight months, to Rs 162 on the National Stock Exchange after the announcement.
“The leadership team along with Sameer nair continued to do a great job of driving topline growth and bottomline profitability,” Ekta Kapoor, managing director at Balaji Telefilms, said in a statement.
Also Read: Balaji Telefilms Jumps The Most In 2 Months, Hitting 52-Week High
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