MUMBAI: The rumours that were making rounds of Vikram Chandra stepping down from his post at NDTV have now been put to rest.

The NDTV informed the Bombay Stock Exchange (BSE) that the company Board of Directors has approved the decision of Chandra to step down from the position of the group chief executive officer (CEO) and executive director of NDTV with immediate effect.

Chandra was appointed the group CEO in 2011 for a term of three years which was further extended by another two years. Chandra has expressed the wish to return to full time journalism within NDTV and focus on the TV shows of the Group. Chandra will continue with the Company as Consulting Editor.

The Board while accepting the decision of Chandra placed on record its appreciation of his valuable contribution as CEO. The Board on the recommendation of the Nomination and Remuneration Committee today approved that the executive vice-chairperson KVL Narayan Rao take over additional responsibilities as the Group CEO of NDTV with immediate effect.

Rao has been associated with the Company for nearly 22 years in various capacities including Group CEO and has been a key factor in the creation of NDTV.

Rao has served three terms as the president of the News Broadcasters Association (NBA). He has also been on the Board of Indian Broadcasting Foundation (IBF) and V ice President of the Commonwealth Broadcasting Association. He continues to be on the Board of both the NBA and the IBF.

Rao is one of the most respected leaders of the news broadcasting fraternity where he has often played a critical role.