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Puri, 54, has been with ITC for more than three decades. An alumnus of Indian Institute of Technology Kanpur, he oversaw a large portfolio of businesses starting December 2014. For a year till his elevation to the board as an Executive Director, Puri was ITC’s President (fast-moving consumer goods), overseeing the company’s interests in cigarettes, food and personal care products, among other key segments.
The board is likely to consider a proposal to split the post of Chairman between Non-Executive Chairman and Chief Executive Officer after Y C Deveshwar tenure expires on February 5, 2017. After more than two decades at the company’s helm, Deveshwar will become a mentor to a new leadership at the diversified conglomerate, which also has interests in hotels and consumer packaged goods.
Under Deveshwar’s 20 years of leadership, the company’s revenue had grown from Rs 5, 200 crore to Rs 51, 500 crore; almost a 10-fold jump—while generating shareholder returns of 23.3%, compounded annually.
Source: travelnewsdigest.in