ITC's Deveshwar to pave way for successor by 2017
FMCG company ITC has said its chairman YC Deveshwar would move into a non-executive role sometime in the next five years paving the way for a smooth handing over of the reins to a successor, reports Hindustan Times.
June 17, 2011 / 03:03 PM IST
FMCG company ITC has said its chairman YC Deveshwar would move into a non-executive role sometime in the next five years paving the way for a smooth handing over of the reins to a successor, reports Hindustan Times.
In a notice, the company has sought shareholders' approval for the reappointment of Deveshwar, 64, as its wholetime director and chairman with effect from February 5, 2012 for a five-year-term, the report says."As a process of succession planning, a part of this tenure may be served by Deveshwar as non-executive chairman, as board of directors of the company may determine," ITC said, the report adds.Source: Hindustan Times
