ITC board recommends 2nd term for Sanjiv Puri as firm’s CMD

Kolkata: The board of ITC Limited has recommended the reappointment of Sanjiv Puri as the company’s chairman and managing director for a second term of five years.

The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company’s annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday.

The company under Puri drove the ‘ITC Next’ strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said.

The total remuneration of ITC Chairman and Managing Director Sanjiv Puri was increased 53.08 per cent to Rs 16.31 crore for financial year 2022-23.

Puri drew a basic salary of Rs 2.88 crore, perquisites and other benefits of Rs 57 lakh and a performance bonus/ long-term incentives/ commission of Rs 12.86 crore from ITC for 2022-23.

A year ago, Puri’s total remuneration was Rs 10.66 crore, which included a basic salary of Rs 2.64 crore, perquisites and other benefits of Rs 49.63 lakh.