MUMBAI: After the departure of its two senior management team members namely Priti Shahani and Aman Gill a couple of months back, Network 18’s film arms The Indian Film Company and Studio 18 have seen another top level exit. The Indian Film Company (TIFC) investment adviser CEO and Studio 18 CEO Sandeep Bhargava has resigned from the company.

Network18 and Viacom18 group CEO Haresh Chawla will be incharge of the film companies in the interim, whereas Manish Thukral, the CFO of the investment adviser will act as interim-CEO of the investment adviser.

Sources inform Businessofcinema.com that a major restructuring exercise of the film division is currently underway.

Chawla said, “Over the last two years Sandeep has made TIFC a successful business venture and we wish him luck in his future endeavors. Soon, we will start the next phase of our growth in the films business through TIFC & Studio 18 and we shall share the details of that in time to come.”

Bhargava was the founding member of Studio 18 and the AIM-listed TIFC. His last day with the company will be 30 June. When contacted, Bhargava confirmed the development to Businessofcinema.com. His next move is as yet undecided.

During his tenure as CEO, Bhargava released movies like Jab We Met, Welcome, Golmaal Returns, Singh Is Kinng and Ghajini. Under his leadership, the company also pioneered the model of syndication of the content for televised viewing as well as limited music rights.

Prior to joining TIFC, Bhargava was with Sahara One Motion Pictures and UTV Software Communications.