JioStar's Chief Revenue Officer Ajit Varghese Steps Down, Mahesh Shetty Takes Over

Ajit Varghese, the Chief Revenue Officer (CRO) of Reliance-backed JioStar, has stepped down. He will now become the Group CEO of Madison Media and its outdoor ad division, OOH.

Mahesh Shetty, who currently heads revenue and large customer business at JioStar, will take over as the new CRO, according to an internal memo.

Before the $8.5 billion Disney-Reliance merger, Varghese was EVP and head of network and ad sales at The Walt Disney Company. Earlier, he held senior roles at ShareChat and Moj as Chief Commercial Officer and was Global President at Wavemaker.

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Mahesh Shetty, who replaces him, has been leading network sales at Viacom Media Pvt Ltd. since 2019. Prior to that, he was COO at Radio Mirchi.

In February 2024, Reliance Industries and The Walt Disney Company announced a joint venture to merge Viacom18 (Reliance’s media arm) with Disney’s Star India.

Earlier this month, the ICC named Sanjog Gupta, CEO of Sports & Live Experiences at JioStar, as its new chief executive. After his departure, JioStar announced internally that Ishan Chatterjee, chief business officer for sports revenue, SMB and creator monetisation will now lead the company’s sports business across TV and digital.

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