Diversified ITC Ltd on Monday elevated managing director Sanjiv Puri to the post of chairman and managing director after former chairman Yogesh Chander Deveshwar died on 11 May at a hospital in Gurugram.
Puri, who joined ITC in 1986, was appointed a director on ITC’s board in December 2015 and chief executive in February 2017. Before that, he served as chief operating officer and oversaw several of its ventures, including its agri-business and packaging interests. He has also worked with the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (Ficci).
Deveshwar became chief executive and chairman in January 1996 and stepped down in 2017, remaining a non-executive chairman.
He led ITC’s transformation from a cigarette manufacturer to a diversified group with interests in sectors including hospitality and fast-moving consumer goods.
In a statement, Puri said Deveshwar had pushed for sustainable and inclusive growth. “This vision drove ITC to pursue business models that today support over six million livelihoods, many amongst the weakest in society,” he said.