Ronnie Screwvala to step down at Disney UTV on June 30, 2014. Siddharth Roy Kapur will be MD wef Jan 1

24 Oct,2013

Ronnie Screwvala

By  A Correspondent

 

The Walt Disney Company (TWDC) has announced that Managing Director Ronnie Screwvala will step down on June 30, 2014 and Siddharth Roy Kapur, currently Managing Director of Disney UTV’s studio business, will take over the company’s India operations. Mr Kapur will become Managing Director of TWDC India effective January 1, 2014, and Mr Screwvala will assist in the transition until June 30, 2014.

 

“It’s been a fantastic seven-year working relationship with Disney,” said Mr Screwvala, “first as a co-shareholder, then when Disney held a majority stake in UTV, and since February 2012 as Managing Director of Disney UTV India. It has been a great experience to be part of the world’s No 1 entertainment company and to have worked with such a talented team to solidify our footprint in India as a diversified and successful business across television, broadcasting, movies, consumer products, games and digital.”  After June 2014, Mr. Screwvala will pursue his entrepreneurial goals in some of the impact sectors in India and devote more time with his foundation, Swades.

 

Andy Bird, Chairman of Walt Disney International added, “I’ve had the pleasure of working with Ronnie for the past seven years and appreciate his entrepreneurial drive and vision for Disney in India. He has successfully managed integration efforts and set the foundations of long term growth for our business. In 2012 when we acquired UTV, Ronnie had a clear mandate to merge two organizations, build a single team and lay the strategic direction for a diversified media and entertainment company that would be part of the growing India growth story. When he passes on the baton in June 2014, almost two-and-half years since the acquisition, he will leave the company in a great place strategically and with a strong leadership team.

 

“I want to thank Ronnie for helping to shape Disney’s journey in India and for his contribution to our success. We are delighted that he will continue to be associated with Disney in the future,” added Mr. Bird.

 

Mr Bird also announced that Mr. Roy Kapur will become Managing Director of TWDC India effective January 1, 2014. “Sid has been an integral part of the Disney UTV family and brings to the role a diverse set of business and creative skills and a strong pulse on the Indian audience and consumers.”

 

“Sid’s innate understanding of the Indian viewer, his ability to leverage those insights in business, coupled with his experience and expertise in fast-moving consumer goods businesses, television and in building India’s leading movie studio made him the natural choice for the role. I look forward to working with Sid to take Disney UTV to its next level of growth in the years to come,” added Mr Bird.

 

“Disney is one of the most admired media brands in the world and I see this as a great opportunity to work together with the incredible team we have at Disney UTV in India, to take our content and our brands to the next level of growth in one of the most dynamic media markets in the world,” said Mr Roy Kapur. “It’s been close to 15 years for me in media and entertainment, more than half of those at Disney UTV, and it’s wonderful to be part of a fantastic team and the diversified businesses that now make up the combined company.”

 

The Walt Disney Company India started operations in July 2004 with its head office located in Mumbai, and significantly expanded its footprint in February 2012 after acquiring a controlling stake in UTV

 

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