Sanjiv Puri appointed ITC’s New Chairman

ITC Group’s present Managing Director (MD) Sanjiv Puri was elevated as new Chairman and Managing Director of company. His appointment comes after noted industry leader and erstwhile ITC Chairman Yogi C. Deveshwar died on 11 May 2019.

Background

• Y C Deveshwar (aged 72) had stepped down from ITC’s executive role in 2017 but remained non-executive chairman of company. He was ITC’s longest serving Chairman and corporate head.
• Later in 2017, as part of succession planning in company, the ITC group split the role of company’s Executive Chairman between Chairman and Chief Executive Officer (CEO). Y C Deveshwar then mentored the executive management led by Sanjiv Puri.

Sanjiv Puri

• He is an alumnus of the Indian Institute of Technology (IIT), Kanpur and Wharton School of Business.
• He joined ITC in 1986.
• Since 2015 he was a director on the board of company.
• In February 2017 he was appointed Chief Executive Officer (CEO), assuming independent charge of executive leadership of ITC.

About ITC

• ITC stands for ‘India Tobacco Company’, is India’s largest cigarette company.
• It was established in 1910 and is headquartered in Kolkata, West Bengal.
• It has diversified presence in various business like Cigarettes, Packaging, Hotels, Agri-Business, Paperboards & Specialty Papers, Packaged Foods & Confectionery, Information Technology, Branded Apparel (Wills), and other FMCG products.

Month: Current Affairs - May, 2019