You are here: Home » Companies » News
Business Standard

ITC gets a new CFO in Supratim Dutta as part of organisational revamp

Appointment with effect from September 5 as new man in replaces Rajiv Tandon, who continues on board, with Dutta reporting to him

Topics
ITC | ITC Hotels | Indian CFOs

Ishita Ayan Dutt  |  Kolkata 

ITC
Dutta, who joined ITC on November 1, 1990, soon after qualifying as a chartered accountant and cost accountant, has had a wide ranging experience in the company.

Diversified conglomerate has appointed Supratim Dutta chief financial officer as part of its organizational restructuring.

informed the exchanges Saturday night that Dutta (53) was appointed as the chief financial officer (CFO) with effect from September 5. He would be replacing Rajiv Tandon, who would, however, continue on the board and Dutta would be reporting to him.

Dutta, who joined on November 1, 1990, soon after qualifying as a chartered accountant and cost accountant, has had a wide ranging experience in the company. He has covered various aspects of finance including planning, treasury, mergers & acquisitions, accounting, taxation, IT, investor relations and business strategy over the last 30 years.

He has also held important positions in various industry bodies including chairperson – finance and banking committee of The Bengal Chamber of Commerce & Industry, ITC said.

Commenting on the appointment of the new CFO, Abneesh Roy, executive vice president of institutional equities at Edelweiss Securities, said, Dutta has been with ITC for 30 years and relatively young from ITC perspective at 53 years of age.

This was a positive development as the average age of top management continues to reduce started earlier by appointment of Puri as chairman, he added.

ALSO READ: Localised lockdown impacting ITC's recovery pace, outlook uncertain: Puri

ITC recently made some changes in its executive management, too. Rajnikant Rai, who was chief operating officer of agri business, became divisional chief executive of in June; Vikas Gupta took over as divisional chief executive of the education and stationery business in March this year, which was in addition to his responsibility as the divisional chief executive of the lifestyle retailing business.

However, even as the changes were made, ITC veterans – Tandon (66) and Nakul Anand (63) - have been reappointed to the board.

At the company’s annual general meeting held on September 4, Tandon, who oversees finance, accounting, internal audit and IT functions and also investment subsidiaries of the company, was reappointed as a wholetime director for a period of one year from July 22, 2021.

Nakul Anand, who oversees hospitality, travel and tourism businesses, in addition to lifestyle retailing, too, has been reappointed for a period of two years from January 3, 2021.

Incidentally, at the company’s AGM, there was a shareholder comment on the age of the board. ITC chairman, Sanjiv Puri, however, responded that age was not the factor to look at. The effectiveness of a board should be judged on the quality of governance, quality of results and quality of stakeholder management, he said.

It’s a question of having the right talent and the right skills and age is not the index for it, he further added.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, September 06 2020. 15:18 IST
RECOMMENDED FOR YOU
.