Sanjiv Puri, ITC new Chairman and MD

Sanjiv Puri, ITC new Chairman and MD.

Diversified ITC Group announced the elevation of its MD Sanjiv Puri as the Chairman and Managing Director of the company. The announcement was made as the company revealed its Q4 result for FY19. Puri has been elevated after industry leader and former Chairman YC Deveshwar passed away on May 11 after a brief illness.

Diversified ITC Group announced the elevation of its MD Sanjiv Puri as the Chairman and Managing Director of the company. The announcement was made as the company revealed its Q4 result for FY19. Puri has been elevated after industry leader and former Chairman YC Deveshwar passed away on May 11 after a brief illness. YC Deveshwar (72) had stepped down from executive role in 2017 but remained as a chairman in non-executive capacity. “The Board of Directors of the company at the meeting held today appointed Sanjiv Puri, Managing Director, also as the Chairman of the Company with effect from May 13, 2019. Consequently, Puri’s new designation is Chairman and Managing Director of the company,” ITC said in a regulatory filing.

In 2017, ITC had split the role of the Executive Chairman between Chairman and Chief Executive Officer as part of succession planning in the company. Deveshwar had played the role of mentor to the executive management led by Sanjiv Puri. The latter is an alumnus of the Indian Institute of Technology, Kanpur, and Wharton School of Business. He has been associated with ITC for a long time now. He joined ITC in 1986.

He was appointed as a Director on the Board of ITC with effect from December 6, 2015 and Chief Executive Officer from February 5, 2017 taking independent charge of the executive leadership of the Company. He is also the Chairman of the Corporate Management Committee. On My 16, 2018, Puri was appointed as the Managing Director of the company. 
Prior to his appointment as a Director on the Board of ITC, Puri was President, FMCG Businesses - Cigarettes, Foods, Personal Care, Education & Stationery Products, Matches and Agarbattis, since December 2014.

 

News Slider
Special Feature
Industry People
Monday, June 3, 2019