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ITC board reappoints Sanjiv Puri as chairman & managing director

In a significant development, the board of ITC Ltd has re-appointed Sanjiv Puri as the company’s Chairman and Managing Director for a period of five years. The decision, made on the recommendation of the committee, is set to take effect from July 22, 2024. ITC Limited is an eminent Indian conglomerate, which holds a prominent position among the largest companies in the country. Its operations encompass a diverse range of business sectors, such as tobacco manufacturing, food processing, retailing, and financial services.

A Remarkable Career Journey

Sanjiv Puri, 60, joined ITC in January 1986 and has since demonstrated exceptional leadership across various roles within the organization. He was appointed as the Chief Executive Officer in February 2017 and later re-designated as the Managing Director in May 2018. Puri took on the role of Chairman of the tobacco-to-hotels conglomerate on May 13, 2019.
During his tenure at ITC, Puri has held several key positions, displaying a remarkable understanding of diverse business verticals. He has overseen critical areas such as manufacturing, operations, and information & digital technology. Puri’s expertise and strategic vision have played a pivotal role in shaping ITC’s growth trajectory.

Leadership

Under Puri’s leadership, ITC has embraced a transformative strategy called ‘ITC Next,’ focusing on innovation, digital acceleration, customer centricity, and cost optimization. This strategic framework has enabled the company to invest in new growth avenues while ensuring supply chain agility. The company has made significant strides in areas such as environmental conservation, rural development, and community welfare, reflecting Puri’s dedication to creating a positive impact.

Carrer Background

With a career spanning over three decades at ITC and its subsidiaries, Puri’s contributions have been instrumental in driving the company’s success. Puri is an alumnus of the prestigious Indian Institute of Technology, Kanpur, and the esteemed Wharton School of Business, USA. His diverse educational background has equipped him with a holistic perspective and a strong foundation for effective decision-making.

Future Outlook

Puri’s extended tenure as Chairman and Managing Director of ITC presents an opportunity for the company to build upon its strong foundation and continue its growth trajectory. With Puri’s strategic vision and extensive experience, ITC is well-positioned to navigate the evolving business landscape and capitalize on emerging opportunities.

Key takeaways for competitive examinations

  • Full form of ITC: Indian Tobacco Company
  • ITC Founded in: 24 August 1910

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