Vineet Singh Hukmani, MD & CEO of Next Radio Ltd, which operates the Radio One network in India has stepped down after 12 years with the company.

A scheme of arrangement between HT Media & Next Mediaworks (the parent company of Next Radio Ltd – 94.3 Radio One) was underway and pending approval from the Ministry of Information & Broadcasting & SEBI.

With these approvals having been obtained, HT Media Ltd, has now secured majority control of these entities as communicated in the board meeting of Next Radio Ltd held on April 18.

Tarique Ansari, Chairman of Next Media Works Ltd said: “In continuation of the proposed Scheme of Arrangement between HT Media & Next Mediaworks Ltd, and following clearance from the Ministry of Information & Broadcasting and SEBI, Vineet Singh Hukmani, MD, CEO & shareholder director in Next Radio Ltd has decided to step down from his board & operating responsibilities.”

 Hukmani said: “I am extremely satisfied both as a board member and an operating head with the highly differentiated and valuable FM radio business we have built over the last 12 years. I would like to thank our Chairman Tarique Ansari, our CFO Ismail Dabhoya, fellow board members and outstanding Radio One team members for the faith placed in me all these years. I wish our operating teams much success. On future plans, there is something exciting on the horizon.”