FMCG major ITC Ltd on Monday said its board of directors has appointed company Managing Director Sanjiv Puri as its Chairman with immediate effect following the demise of Y. C. Deveshwar, who was the Chairman and Non-Executive Director of the diversified conglomerate.
“…the Board of Directors of the company at the meeting held today (Monday) appointed Sanjiv Puri, Managing Director, also as the Chairman of the company with effect from May 13, 2019. Consequently, Puri’s new designation is Chairman & Managing Director of the company,” ITC said in a regulatory filing.
Deveshwar, who was the company’s longest serving corporate head, died on Saturday. He was 72.
He was first appointed as an Executive Director in April, 1984 and became Chairman in 1996.
In February, 2017, Deveshwar was appointed as Chairman in a non-executive capacity.