Diversified ITC Group on Monday, 13 May, announced elevation of MD Sanjiv Puri as the Chairman and Managing Director of the firm, two days after its long-serving Chairman YC Deveshwar passed away.
Puri (56), who had taken over as Managing Director from 16 May 2018, was appointed as a director on the Board of ITC on 6 December 2015.
He became CEO on 5 February 2017, after the company split the role of the Executive Chairman - between Chairman and Chief Executive Officer (CEO) as part of succession planning in the company.
"The Board of Directors of the company at the meeting held today appointed Sanjiv Puri, Managing Director, also as the Chairman of the Company with effect from 13 May 2019. Consequently, Puri's new designation is Chairman and Managing Director of the company," ITC said in a regulatory filing.
His elevation comes after Deveshwar (72), who remained as non-executive chairman, passed away on 11 May after a brief illness.
On his new role, Puri said, "It is a responsibility that I accept with humility and with a deep resolve to build on the outstanding legacy nurtured over the years, further strengthen and build market leadership across all business segments whilst reinforcing ITC's commitment to put Nation First always".
Puri, an ITC veteran, has held various responsibilities across different verticals of the company, including as President FMCG Businesses, Divisional Chief Executive of the Tobacco Division and as Managing Director Director ITC Infotech India Ltd, among others.
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