Screwvala steps down from Disney, Siddharth Roy to take over

The Walt Disney Company (TWDC) today announced top level management change with its Managing Director Ronnie Screwvala slated to step down from his post on June 30 next year.

Siddharth Roy Kapur, currently Managing Director of Disney UTV's studio business will replace him in TWDC India, the company said in a statement.

"Siddharth Roy Kapur will become Managing Director of TWDC India effective 1st January 2014, and Screwvala will assist in the transition until 30th June 2014," it said.

 Walt Disney International Chairman Andy Bird said: "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".

TWDC had acquired UTV, then owned by Screwvala and merged the two organisations. Later, Screwvala was appointed as its Managing Director.

Screwvala said: "It's been a fantastic seven-year working relationship with Disney. 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."

The combined Disney UTV entity today is built around five core brands - Disney, Marvel, UTV, Bindass and Hungama - and a mix of a nine-broadcast-channel network.