ITC Limited Announces Executive Changes
For the first time, ITC has appointed a lateral hire to lead its cigarette business. Devraj Lahiri, who joined the conglomerate in December 2020 from rival VST Industries as managing director, has been named divisional chief executive for the tobacco business. Devraj had joined ITC as the company’s tobacco business’s chief operating officer. Former CEO Sandeep Kaul has joined ITC’s corporate management committee, where he oversees businesses such as tobacco, matches, and agarbatti, as well as the start-up cell. Devraj will now report to Kaul, who will report to Sanjiv Puri, chairman, and managing director.
ITC Limited is an Indian conglomerate company headquartered in Kolkata. ITC has a diversified presence across industries such as FMCG, hotels, software, packaging, paperboards, specialty papers, and agribusiness.
Net profit rose to ₹4,156.20 crores in the quarter ended 31 December 2021, up from ₹3,687.88 crores a year earlier.