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ITC appoints Sanjiv Puri as Chairman and Managing Director as YC Deveshwar passes away

New Delhi: Diversified ITC Group on Monday announced the elevation of MD Sanjiv Puri as the Chairman and Managing Director of the firm, two days after its long-serving Chairman Y C Deveshwar passed away.

Puri (56), who had taken over as Managing Director from 16 May, 2018, was appointed as a director on the Board of ITC on 6 December, 2015.

 ITC appoints Sanjiv Puri as Chairman and Managing Director as YC Deveshwar passes away

File image of YC Deveshwar, Reuters.

He became CEO on 5 February, 2017 after the company split the role of the Executive Chairman - between Chairman and Chief Executive Officer (CEO) as part of succession planning in the company.

"The Board of Directors of the company at the meeting held today appointed Sanjiv Puri, Managing Director, also as the Chairman of the Company with effect from 13 May, 2019. Consequently, Puri's new designation is Chairman and Managing Director of the company," ITC said in a regulatory filing.

His elevation comes after Deveshwar (72), who remained as non-executive chairman, passed away Saturday morning after a brief illness.

On his new role, Puri said, "It is a responsibility that I accept with humility and with a deep resolve to build on the outstanding legacy nurtured over the years, further strengthen and build market leadership across all business segments whilst reinforcing ITC's commitment to put Nation First always".

Puri, an ITC veteran, has held various responsibilities across different verticals of the company, including as President FMCG Businesses, Divisional Chief Executive of the Tobacco Division and as Managing Director ITC Infotech India Ltd, among others.

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Updated Date: May 13, 2019 18:07:32 IST