Sudhanshu Vats joins Essel Propack as Additional Director; resigns from Viacom18

As per a recent announcement, it was reported that  Sudhanshu Vats, Group Chief Executive Officer (CEO) and Managing Director (MD) of Viacom18, has resigned from the media and entertainment company. 

Starting April 16, 2020, Sudhanshu Vats will be the Additional Director at Essel Propack. Besides this, the board at Essel Propack has also appointed him as the CEO and MD  and Managing Director of the Company. Based out of Mumbai, Essel Propack is one of the key players in the packaging segment, and the company manufactures laminated plastic tubes for Pharmaceutical and the FMCG sectors.

Vats took a decision to resign from Viacom18, after a tenure of eight years, and his last day with his subsidiary of Network18 will be on April 15, 2020. A statement released by the firm, said, "During his years at the company, Vats expanded the media network''s footprint into new business lines of digital, experiential entertainment and consumer products. He also strengthened Viacom18''s position in Hindi mass entertainment, regional, kids, music & English entertainment and turned around the filmed entertainment business with content-led cinema."

Over the years, Vats helped the brand grow exponentially, and today the network has 54-channels and a video-on-demand platform (VOD) OTT platform, Voot, with an impressive digital presence. Further, the statement said that the broadcasting firm has grown by 11.1 per cent, to become one of the most prominent names in the entertainment sector, including the film studio and OTT offerings.

"Vats leaves behind a strong leadership team which has grown the different verticals of the company into large businesses and they will continue to manage their respective verticals under the leadership of Rahul Joshi, Managing Director of the Network18 Group," the statement added.

Speaking about his journey at Viacom18, Sudhanshu Vats said,"We have together built one of the most admired media companies of brilliant storytellers with diversified presence across screens and platforms. As I look forward to taking up newer challenges, I shall always cherish the learnings in leading India''s youngest and fastest-growing media and entertainment company."

Further, Managing Director of Network18, Rahul Joshi will be taking the additional charge of Viacom18.