Ekta Kapoor and her mother Shobha Kapoor have stepped down from their positions as the head of their OTT company ALTBalaji. The film producer, on Friday morning, shared a press release on Instagram, which announced the new development, calling the decision "strategic." Vivek Koka has been appointed as the new Chief Business Officer of ALTBalaji. 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."
The statement read, "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 read.
Ekta Kapoor accompanied the post 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."
Read Ekta Kapoor's statement here:
Sonam Kapoor, who starred in Ekta Kapoor's Veere Di Wedding, wrote: "You're the best...Love you." Sussanne Khan, who happens to be a friend of Ekta Kapoor, commented: "To greater conquests my friend full power to you and ALTBalaji to grow bigger and stronger."
Ekta Kapoor is an Indian television and film producer. She is the joint managing director and creative head of Balaji Telefilms Limited, which produces most of the Indian television soap operas.