Eros appoints Rajesh Chalke, elevates Rishika Lulla Singh and Pradeep Dwivedi as it completes sale of STX

To change its corporate name to Eros Media World

Apr 26, 2022 04:53:00 AM | Article | Campaign India Team

Eros STX global corporation, a global Indian entertainment company, has announced a slew of developments such as a corporate name change, revenue growth, strategic additions to its board of directors and management team. 
 
First up, it has completed the announced sale of its STX subsidiary. With this, the entertainment company plans to change its name to Eros Media World. 
 
Furthermore, it has appointed Rajesh Chalke as CFO. The company has also elevated Rishika Lulla Singh its CEO as executive chairperson and Pradeep Dwivedi its group CEO and executive director as CEO. 
 
Chalke moves from Carnival Group, where he was group CFO. 
 
With this revived identity, Eros Media strives to produce a valuable content library combined with multiple monetisation channels positioned to drive long-term revenue growth. 
 
The company’s focus will be on leveraging the value of its content library and two main verticals: studio and digital.
 
Following the Sony-Zee merger, the company wants to attract significant investments and M&A (marketing and advertising) potential. It aims to place itself strategically to capitalise on growth opportunities. The company had collaborated with Sony India in 2020. 
 
The entertainment company also wants to venture into innovative opportunities such as AVOD, blockchain, and non-fungible tokens (NFTs) to drive increments and focus on the growth of Eros Now Music. 
 
Kishore Lulla, former executive chairman, Eros Now, said, “As the business and market matures, I am confident in Eros Media’s execution capability with fundamentals on track. I am pleased to announce Pradeep Dwivedi as CEO and welcome Rajesh Chalke as CFO to usher in a new era for Eros Media, with guidance from an experienced board. I will step down from the executive positions at Eros Media in the near future and dip into my entrepreneurial fibre to build the biggest Web3 and Blockchain Indian eco-system for the world via Eros Investments1. The amalgamation of the virtual/meta world, with high fidelity gaming and digital goods/NFT’ bound via de-centralised technology in the Web2, Web 3 and immersive experiences is principal premise of Eros Investment’s focus over the next 10 years."