Shareholders of Zee Entertainment Enterprises Ltd (ZEEL) have rejected a proposal for the reappointment of Alicia Yi as an independent director on the company board.
The special resolution for the reappointment of Alicia Yi got only 42 per cent votes in favour compared with 57.97 per cent against it.
“Based on the votes cast by the members, the special resolution about the reappointment of Alicia Yi as an independent director of the company for a second term of 3 years has failed to receive a requisite number of votes in favour,” Zee said in a late-night regulatory filing on Thursday.
Hence, she vacates the office of independent director with effect from July 13, 2023, it added.
“The board shall take necessary steps for complying with the requirement of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 to have the optimum composition of the board of directors of the company,” it said further.