Kaviya Kalanith Maran, daughter of Sun TV Network promoter Kalanithi Maran has been inducted into the Board of Directors of the company, marking the entry of one more next gen entrepreneur into the industry. K Vijayakumar, managing director and chief executive officer of the company has resigned from the post with effect from March 31, 2019, but will continue as an executive director of the Board.
The 27 year old Kaviya Kalanithi Maran is a B.Com graduate from Stella Maris College, Chennai, and had internship in various departments in Sun TV, including content and programming. After a couple of years working with the company, she joined for MBA in Leonard N Stern School of Business, New York University. After completing the course, she returned to India and took responsibility to run the operations of Sun TV Group's Indian Premier League (IPL) team Sun Risers Hyderabad.
From 2017, she has conceptualised and led the foray of the Group into digital. She currently heads the Sun NXT, the Over-The-Top (OTT) platform of Sun TV Network, which has crossed 1 million subscribers already and adding around 20,000 subscribers a day. The company has recently said that it would be rolling out a larger plan for the OTT business, with investment behind original content into the platform.
According to a company filing with the exchanges, the Board of Directors of the company today approved appointment of Kaviya Kalanithi Maran as an additional director and executive director of the company, a decision which will be going for shareholders' approval through postal ballot. Apart from Kalanithi Maran, his wife Kavery Kalanithi is also sitting in the board as the Executive Director.
R Mahesh Kumar, who has been the president of the company, has been appointed as an Additional Direcetor as well as Managing Director of the company. It has also appointed two more members to the Board.
The postal ballot will also seek approval from the shareholders for continuation of payment of remuneration payable to Kalanithi Maran, Chairman and Kavery Kalanithi, executive director, as per the Sebi regulation.