ITC elevates Sanjeev Puri as Director FMCG

Sanjiv Puri would take charge from P Dhobale, who is a director on the board of ITC and has responsibility for the group`s FMCG businesses.

New Delhi: In a top-level change, diversified group ITC has elevated Sanjiv Puri as Director of its FMCG business.

Puri would take charge from P Dhobale, who is a director on the board of ITC and has responsibility for the group's FMCG businesses.

"With effect from December 6, 2015, all responsibilities currently discharged by P Dhobale will vest with S Puri. All those reporting to Dhobale will report to Puri," a circular issued by ITC chairman Y C Deveshwar said.

Puri would also have responsibility for ITC's Packaging & Printing Business (PPB) and Paperboards and Specialty Papers Division (PSPD) business from January 22, 2016.

"With effect from January 22, 2016, Puri will oversee PPB and PSPD and consequently both the chief executives would report to him," it said.

Puri is currently, President of ITC's FMCG Businesses which includes cigarettes, foods, personal care, education & stationery products, matches and agarbattis.

The circular also added that B Sumant will take over the responsibilities of President, FMCG from Puri by April 1, 2016".

According to ITC, the changes are made as two of its executive directors are retiring in December and January.

"The visibility of new roles will ensure appropriate participation in the planning process of taking over the new responsibilities," Deveshwar said.

In 2014-15, ITC had a revenue of Rs 36,507.40 crore with net profit of Rs 9,607.73 crore.

Shares of ITC today settled at Rs 342.60 at BSE, up 1.96 percent from previous close.