ITC appoints Sanjiv Puri as COO of the company

Diversified ITC Group has appointed Director FMCG business Sanjiv Puri as its Chief Operating Officer, amid speculations that he may succeed Y C Deveshwar as its next CEO.
The board of the company, in a meeting held today has "redesignated Sanjiv Puri, Wholetime Director also as Chief Operating Officer of the Company with immediate effect," ITC informed BSE in a regulatory filing.
Puri, a graduate from IIT Kanpur had joined ITC in 1986 and is currently head Director of FMCG business.
Besides, 53-years-old Puri has also responsibility for ITC's Packaging & Printing Business (PPB) and Paperboards and Specialty Papers Division (PSPD) business.

Presently, Y C Deveshwar, (69) is the Chairman & Chief Executive Officer of ITC and as per the succession plans, he would shed his executive role after February next year and then has plans to stay as non-executive chairman until 2020.
"Deveshwar will complete his present term on February 4, 2017. This AGM will be his last as Chief Executive Officer of the company," ITC said in the notice to BSE on June 21.

On December 6, ITC has elevated Sanjiv Puri as Director of its FMCG business replacing P Dhobale.
He also has responsibility for ITC's Packaging & Printing Business (PPB) and Paperboards and Specialty Papers Division (PSPD) business from January 22, 2016.

Prior to his appointment as director, Puri was President FMCG Businesses from December 2014, which takes care of segments as cigarettes, foods, personal care, education & stationery products, matches and agarbattis.
He has handled a wide range of responsibilities including business leadership positions, manufacturing, operations as well as in information & digital technology.
Puri has led ITC Infotech, IT wing of the company, as its Managing Director from May 2006 to August 2009. He has also been on the Boards of ITC Infotech's wholly owned subsidiaries in the UK and USA.
ITC is aspiring to be number one player in new FMCG businesses and has set a revenue target of Rs 1,00,000 crores by 2030.