MUMBAI: Prem Parameswaran has been appointed as the group chief financial officer of Eros International, Plc and president - North America, a newly created position.
Parameswaran will succeed Andrew Heffernan as group CFO, who will be taking a leave of absence from the company in June.
Parameswaran joins Eros with over 23 years of experience in investment banking, advising clients in the global telecommunications, media and technology sector, including on mergers and acquisitions and public and private equity and debt financing.
Eros executive chairman Kishore Lulla said, “Our company is at an important point in its growth trajectory with the increasing popularity of Indian entertainment content, evolution of technology and dynamic transformation of the Indian economy underway. With his impressive background in finance, mergers and acquisitions and operational strategy, Prem has the knowledge, relationships and global perspective that will be very valuable as we continue our growth around the world and optimize our capital structure. We look forward to his valuable contributions to our strategy and tapping into his relationships to extend our reach with the financial community and potential partners.”
Parameswaran added, “Over the course of my career, I have seen first-hand a number of media and entertainment businesses on the verge of exponential growth, and I believe Eros is one of those kinds of companies. Eros’ incredibly valuable and growing content library, its dominant market share position in one of the fastest growing markets in the world, its burgeoning digital distribution platform ErosNow, and its very talented and experienced management team are the elements that I believe make this a compelling company. This is an ideal situation where I can bring my experience, relationships and financial background into a well-established company and help drive additional growth and create value for its shareholders. I am excited to get started and look forward to working with the team to achieve great things.”
Parameswaran most recently served as the global head of media and telecommunications investment banking at Jefferies LLC. Prior to Jefferies, he was the Americas head of media & telecom at Deutsche Bank. He has also previously worked at Goldman Sachs and Salomon Brothers.
Lulla added, “I want to thank Andrew for the important role he has played in the development of our company to date. His insight, experience and understanding of our business has helped us hugely.”
Heffernan said, “During my time with Eros, the company has experienced significant growth in revenues and its film slate and the launch of its digital distribution platform. I look forward to the company continuing to capitalize on its potential to expand further in one of the fastest growing media markets in the world.”
