Ekta Kapoor, mom Shoba Kapoor step down as ALTBalaji heads; OTT platform welcomes Vivek Koka as its new CBO [Here's why]

Eminent producer Ekta Kapoor, the joint managing director and creative head of Balaji Telefilms Limited, and her mother Shobha Kapoor have stepped down from their positions as the head of their OTT company ALTBalaji. On Friday, February 10, Ekta Kapoor shared a press release on Instagram announcing the "strategic" decision and welcomed Vivek Koka as the new chief business officer of the company.

Vivek Koka has been appointed as the new Chief Business Officer

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 further added, "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."

Apart from this, the film producer also wished good luck to the team and wrote, "Good luck team alt! Will always share your posts and lend any support needed. Let's welcome the new management."

More about ALTBalaji

Soon after the announcement was made, Ekta Kapoor's friends and colleagues showed their support to her. Sonam Kapoor, who starred in Ekta Kapoor's film titled 'Veere Di Wedding', said: "You're the best...Love you," while Sussanne Khan wrote: "To greater conquests my friend full power to you and ALTBalaji to grow bigger and stronger."

For the unversed, the streaming service, which is a part of Balaji Telefilms, was started by Ekta Kapoor and recently it turned five. In 1994, Balaji Telfilms was started by her and her parents Jeetendra Kapoor and Shoba Kapoor and it is the single largest television content producer in South Asia that has produced innumerable popular soap operas till date.