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Last Updated : May 13, 2019 03:36 PM IST | Source: Moneycontrol.com

ITC appoints Sanjiv Puri as Chairman

Puri was appointed as chief executive officer (CEO) in 2017, and as Managing Director in 2018. He also heads ITC's corporate management committee.

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ITC has appointed Sanjiv Puri as the Chairman of the company with immediate effect after YC Deveshwar, the company’s longest-serving chairman, passed away on May 11.

Consequently, Puri's new designation is Chairman and Managing Director of the company.

The decision was taken today when the board met to review its results for the quarter ended March 31.

Puri was appointed as chief executive officer (CEO) in 2017, and as Managing Director in 2018. He also heads ITC's corporate management committee.

He had joined ITC in 1986, and is an alumnus of Indian Institute of Technology, Kanpur, and Wharton School of Business.

Puri has also held the role of chief operating officer (COO), and headed ITC’s FMCG, paperboards, paper and packaging and agri-businesses before that.

Long stint

In 2018, ITC’s board extended Deveshwar's tenure as a non-executive chairman till 2022 so that he could groom Puri.

Deveshwar was appointed as a director on the board of the company on April 11, 1984, and became the chief executive and chairman of the board on January 1, 1996.

He was one of India's longest-serving corporate chiefs with over two decades at the helm as the executive chairman and chief executive officer at ITC until February 4, 2017.

After the company split the role of the executive chairman between chairman and chief executive officer on February 5, 2017, Deveshwar agreed to continue as chairman in a non-executive capacity at the request of the nomination and compensation committee and the board. He also played the role of a mentor to executive management.

Between 1991 and 1994, Deveshwar led Air India as Chairman and Managing Director.
First Published on May 13, 2019 03:35 pm
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