Mumbai: Pyramid Saimira Theatre promoter and managing director PS Saminathan has been elevated as the chairman and managing director of the company with immediate effect.

This elevation is in recognition of his pioneering efforts towards making the Pyramid Saimira Group as one of the world’s largest entertainment conglomerates.

This development comes post the resignation of the company’s current chairman V Natarajan. He submitted his resignation from the Board of directors of the company on the onset of 65 years of his age and has been appointed as Chairman-Emeritus, an honorary non-board position.

Natarajan has more than 30 years experience in the film/content production, management and distribution member of various trade bodies in the film industry.

On the other hand, Saminathan started his career as aquaculture economist and become a venture capitalist in the capacity of Head – Finance, where he has handled appraisal, disbursement, monitoring and recovery. He has more than 18 years of domain expertise in techno-commercial ventures, which includes stints at Value Added Funds Management Ltd., Jupiter Trades, and Aquastride.

Saminathan promoted Saimira access technologies, which brought the concept of digital cable at a very early stage.