ITC is eyeing 25% growth in 5 years: Deveshwar

The process to find a successor to lead the vast business of ITC is firming up quick and soon. In his first interview since reappointment as ITC Chairman, YC Deveshwar says that the succession plan is being considered by the nomination committee.

Expressing his pleasure to serve as the Chairman again, Deveshwar said that the decision on choosing a successor will be made by the end of five years. He added that they are likey to see someone from within the company as successor. However, consideration for an outsider too is not ruled out.

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Divulging further, Deveshwar said that ITC is mulling options to foray into tea, coffee and diary chocolates. Targeting 25% CAGR over five years, the company is not looking at inorganic growth as priority.