Shailendra Singh steps down as joint MD of Percept Group1 min read . Updated: 22 Mar 2017, 03:58 AM IST
Harindra Singh will now be in charge of overall operations at the Percept Group
New Delhi: Percept Group’s joint managing director Shailendra Singh has quit the 33-year-old family-run media and communication company.
A statement from the company said Shailendra Singh will be a passive shareholder in Percept, but will not be involved in the management of the Group.
Shailendra Singh will also no longer be a part of the board of directors which comprises five other individuals including chairman Harindra Singh; chief operating officer Ajay Upadhyay and three directors—Ajay Chandwani, R.K. Chaturvedi and Rubeen Malkani.
Both Shailendra Singh and Harindra Singh declined to comment on the development.
Shailendra Singh has been associated with the group since shortly after it was founded in 1984 by his brother Harindra Singh, who will now be in charge of overall operations.
Shailendra Singh has been the guiding force behind Percept Group’s Sunburn Festival, a popular electronic dance music event that combines entertainment, food, shopping and lifestyle and is organized in Goa each year.
Founded in 1984 as a full service advertising agency, Percept evolved to become an entertainment, media and communications group. With a team of over 700 people across 42 offices in India and the Middle East, the group had billings of Rs1,726 crore last year.
The group businesses include marketing communication services arm Percept One which offers advertising, brand marketing consultancy and integrated marketing communication services through its partner agencies such as Percept/H, Hakuhodo Percept, IBD India and Percept Gulf among others. It also has a media planning and buying agency Percept Media and Adchakra.