ITC board recommends second term for Sanjiv Puri as company's CMD

The board of ITC Limited has recommended the reappointment of Sanjiv Puri as the company's chairman and managing director for a second term of five years.

The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company's annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday.

The company under Puri drove the 'ITC Next' strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said.

Revenue from the company's FMCG segment has grown from Rs 12,500 crore to Rs 19,123 crore during the period and segment EBITDA margins improved by 7.7 per cent between 2016-17 to 2022-23.

Its other verticals like hotels, agri-business, paperboards, paper and packaging also registered improved performance in the last four years, they added.