JioStar Appoints Mahesh Shetty as Head of Entertainment Revenue

JioStar is witnessing a key leadership reshuffle as Ajit Varghese steps down from his role as Head of Revenue, Entertainment & International, as per news reports. Varghese is set to join Madison World as Partner and Chief Executive Officer. The announcement comes as the media and broadcasting industry continues to evolve rapidly, prompting organisational changes at the Reliance-owned media network.

Ajit Varghese Exits JioStar 

Ajit Varghese joined JioStar in 2023 as Head of Network Advertising Sales and later expanded his portfolio to lead revenue across both the entertainment and international verticals. An industry stalwart, Varghese brings decades of experience in monetisation strategy and media operations.

His career includes senior positions such as Chief Commercial Officer at ShareChat and Moj, Global President at Wavemaker, where he managed over 50 international markets from London, and CEO of Maxus for the Asia Pacific region. At Madison, he is expected to utilise this breadth of knowledge to drive the agency’s next phase of strategic expansion.

Mahesh Shetty Steps Up as Revenue Head

Following Varghese’s departure, Mahesh Shetty, currently heading Large Customer Sales (LCS), has been appointed to lead the entire revenue function at JioStar. This transition was confirmed internally through a company memo earlier this week. Shetty joined JioStar in December 2024 and brings more than 20 years of experience in the media and advertising landscape. 

His previous roles include Head of Network Sales at Viacom18, where he played a pivotal role in strengthening client partnerships and sales architecture. He also served as Chief Operating Officer and Chief Strategy Officer at Radio Mirchi, gaining deep exposure to operational excellence and strategic execution.

Also Read: Reliance Industries to Host 48th AGM on August 29, Announces Dividend Record Date!

Reliance Industries Share Price Performance 

As of  August 1, 2025, at 3:30 PM, Reliance Industries Ltd share price closed at ₹1,394.10 per share, reflecting a gain of 0.28%. Over the past month, the stock has declined by 8.69%.

Conclusion

As Ajit Varghese embarks on a new journey with Madison, Mahesh Shetty steps up to steer JioStar’s revenue roadmap. The leadership change underscores the evolving media ecosystem and highlights JioStar’s commitment to leveraging seasoned professionals to navigate future growth.

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