Ekta Kapoor and her mother Shobha Kapoor have stepped down from their positions as the head of their OTT company ALTBalaji. Calling the decision 'strategic,' the film producer shared a press release on Instagram, which announced the new development. Vivek Koka has been appointed as the new Chief Business Officer of ALTBalaji. "We are thrilled to welcome Vivek Koka to the Alt Balaji family. His expertise and vision for the future of digital entertainment make him the perfect choice to lead Alt Balaji into its next phase of growth and success," Ektaa R Kapoor said in a statement.
The title of the press release read: "ALTBalaji Announces New Chief Business Officer, As Ektaa R Kapoor And Shobha Kapoor Step Down."
The statement read: "ALTBalaji, one of India's leading digital entertainment platforms, officially announced today that Ektaa R Kapoor and Shobha Kapoor have stepped down from their positions from the head of the company."
"While the process of stepping down started last year, ALTBalaji now has a new team to take over. This decision is a strategic one to focus on other ventures. The company is pleased to announce that Vivek Koka has been appointed as the new Chief Business Officer of ALTBalaji. Under Mr Koka's leadership, ALTBalaji aims to follow their footsteps and continue its strong track record of delivering high-quality, original content to its audiences," the statement added.
Ekta Kapoor shared the same with a caption that read: "Good luck team alt! Will always share your posts and lend any support needed. Let's welcome the new management." Sonam Kapoor, who starred in Ekta Kapoor's Veere Di Wedding, wrote: "You're the best...Love you." Sussanne Khan said, "To greater conquests my friend full power to you and ALTBalaji to grow bigger and stronger."
Though Ektaa R Kapoor and Shobha Kapoor have stepped down from the management of Alt Balaji, Balaji telefilms, the holding company, will still hold shares in the platform.
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