ITC board reappoints Sanjiv Puri as chairman & managing director

“The Board, on the recommendation of the committee, has also recommended for the approval of the members, re-appointment of Mr. Puri as a Director, not liable to retire by rotation, and as the Managing Director and Chairman of your Company for a period of five years with effect from 22nd July, 2024,” the company said in its annual report released Tuesday.

Puri, 60, was appointed as chief executive officer in February 2017 and re-designated as the managing director in May 2018. He was appointed as the chairman of the tobacco-to-hotels conglomerate effective May 13, 2019.

Puri joined ITC in January 1986. With a career spanning over three decades at ITC and its subsidiaries, he has held several business leadership positions and also handled a wide range of responsibilities in manufacturing, operations and information & digital technology.

Puri served as the chief operating officer of ITC between July 2016 and January 2017, and prior to that as president of FMCG businesses since December 2014. Earlier, he was the divisional chief executive of the tobacco division since December 2009, with additional responsibility for the company’s trade marketing and distribution vertical from August 2012.

He led ITC Infotech India Limited, a wholly owned subsidiary of ITC, as its Managing Director from May 2006 to August 2009. Puri served between October 2001 and April 2006 as the Managing Director of Surya Nepal Private Limited, a joint venture subsidiary company of ITC in Nepal.

As CMD, Puri also helmed the ‘ITC Next’ strategy that focusses on innovation across every node of business, digital acceleration, cost optimization, customer centricity, investing in new vectors of growth and ensuring supply chain agility.

Puri is an alumnus of the Indian Institute of Technology, Kanpur, and the Wharton School of Business, USA. In FY23, Puri’s compensation stood at ₹16.31 crore. ITC’s shares were up 1.65% on the BSE on Tuesday.

Updated: 11 Jul 2023, 04:18 PM IST