Sudhanshu Vats has stepped down from his current positions of Group chief executive officer and managing director of Viacom18, a subsidiary of Network18. Vats will continue to serve the company until April 15.

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In his absence, a team under the leadership of Rahul Joshi, MD of Network18 Group, will manage the vertical, a company statement said.

Vats, who was at the helm of the company for the past 8 years, expanded the media network’s footprint into new businesses such as digital, experiential entertainment and consumer products, it said

He also strengthened Viacom18’s position in Hindi mass entertainment, regional, kids, music and English entertainment. Viacom18 has grown from a six to 54-channel network.

Its video-on-demand platform, Voot, helped the company establish a strong digital presence under his stewardship.

As part of Network18 Group, Viacom18 has grown as a prominent entertainment broadcaster, with an 11.1 percent viewership share and is poised for accelerated growth in broadcasting, film studio and OTT offerings, according to the company.

Adil Zainulbhai, Chairman of the Board, Network 18 said, “While we are sad to lose him, it is equally reassuring to know that we have a strong second line that’s raring to go. I’d like to wish Sudhanshu all the very best for his future endeavours.”

Speaking about his journey at Viacom18, Sudhanshu Vats said, “It has been an extremely challenging and satisfying 8 years at the helm of Viacom18. I have had the privilege of working with some of the best minds in M&E industry to chart the growth story of Viacom18. We have together built one of the most admired media company of brilliant storytellers with diversified presence across screens and platforms.”

Viacom18 Media is a joint venture of TV18, which owns 51 percent, and Viacom Inc., with a 49 percent stake.

First Published:Apr 14, 2020 8:51 PM IST