ITC appoints managing director Sanjiv Puri as chairman
Puri, 56, was being mentored by YC Deveshwar for the dual role of chairman-cum-managing director.
Who is Sanjiv Puri?
An alumnus of IIT-Kanpur and Wharton School of Business, Puri has been a lifer with ITC much like Deveshwar. He joined the company in 1986 and rose through the ranks like his predecessor.
Between 2001 and 2006, he was MD of Surya Nepal, ITC’s joint venture subsidiary in the neighbouring country. He then led the IT business subsidiary, ITC Infotech India Ltd, as its MD till 2009 when he was appointed the divisional chief executive of the cigarette business with additional responsibility for the entire cigarette and FMCG (fastmoving consumer goods) distribution and the trade marketing vertical.
Puri’s rise has been rapid in the past five years. In 2014, he was made president of the FMCG businesses, a new position that was created to take overall charge of the entire segment comprising cigarettes, packaged food, personal care, education and stationery products, safety matches and agarbattis.
In 2015, Puri became an executive director when he was made overall in charge of FMCG, paperboards, paper and packaging and agri-businesses. In 2016, he was appointed to a new role of chief operating officer. In 2017, Puri was made the CEO, taking independent charge of executive leadership at ITC when Deveshwar retired from his executive role.
Last year, ITC’s board and nomination and compensation committee decided to extend Deveshwar’s tenure as nonexecutive chairman for two more years till 2022 so that he could continue to mentor Puri before his formal appointment as chairman-cum-MD.