The Walt Disney Company (TWDC) today announced that managing director Ronnie Screwvala will step down on 30th June 2014 and Siddharth Roy Kapur, currently managing director of Disney UTV’s studio’s business, will take over the company’s India operations.
Kapur will assume the post of managing director of TWDC India effective 1st January 2014, and Screwvala will assist in the transition until 30th June 2014.
After June 2014, Screwvala will pursue his entrepreneurial goals in some of the impact sectors in India and devote more time with his foundation, SWADES.
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. 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 & Digital.”
Andy Bird, chairman of Walt Disney International added, "Ronnie 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 organisations, 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.”
Kapur started his career in brand management with Procter & Gamble and then worked with STAR TV in Hong Kong, Dubai and Mumbai in various leadership roles. His tenure at UTV and later at Disney UTV spans more than eight years, first as a member of the core team that launched the successful kids channel Hungama TV (which Disney bought in 2006) and has headed UTV Motion Pictures since 2008. UTV Motion Pictures has become one of the leading movie studios in the country, and is known for its path-breaking content and savvy marketing and distribution.
“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 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 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."