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ITC board gets 2 more directors

Bs Reporters  |  Kolkata\\Mumbai 

ITC, the tobacco-to-hotels major, is readying to create its next generation of leaders.

Earlier this year, was appointed an additional director, as retired. Yesterday’s board meeting decided to appoint two more. and are to be inducted as additional wholetime directors from January 3.

The move is seen as a precursor for succession planning, since Y C Deveshwar’s term as chairman ends in 2012. doesn’t have a specified retirement age.

“With the induction of two executive directors, the board is further strengthened in its role to provide strategic supervision of ITC’s multiple drivers of growth,” a company spokesman said. And, added it was premature to comment on succession.

The growth drivers for the company are identified—fast moving consumer goods, hotels and paperboard. At the previous annual general meeting, Deveshwar outlined investment opportunities across these sectors.

The board-level changes began earlier this year and took place after almost a decade. In March, was appointed an additional director, as retired. Anand and Dhobale will be supervising the board’s strategic vision in the hotels and paperboards, and packaging businesses, respectively. Dhobale will also be supervising finance, with Rajiv Tandon, the chief executive officer, reporting to him.

has a three-tier management structure—board of directors, corporate management committee and divisional management committee.

First Published: Fri, December 24 2010. 01:21 IST