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Board of Directors



Y C Deveshwar

CEO & Executive Director

Sanjiv Puri

Executive Directors

Nakul Anand Rajiv Tandon (CFO)

Non-Executive Directors

Zafir Alam S Banerjee A Duggal
S B Mainak S B Mathur P B Ramanujam
Nirupama Rao S S H Rehman Meera Shankar
D R Simpson


image of Y C Deveshwary c deveshwar

Y. C. Deveshwar (70), is the Chairman of ITC. He was appointed as a Director on the Board of the Company on April 11, 1984 and became the Chief Executive and Chairman on January 1, 1996. On splitting up of the role of the Executive Chairman between Chairman and Chief Executive Officer (CEO) with effect from February 5, 2017, Deveshwar, as Chairman and Non-Executive Director, assumed the role of Mentor to the CEO and Corporate Management Committee.

Deveshwar joined ITC in 1968 and is an alumnus of the Indian Institute of Technology, Delhi and Harvard Business School. Between 1991 and 1994, he led Air India as Chairman and Managing Director.

Articulating a Vision to put Country before Corporation and serve larger national priorities, he has led ITC's strategic thrust to create multiple drivers of growth that would make a significant and growing contribution to the Indian economy. He also shaped and implemented a Strategy of Organisation to effectively manage multiple businesses whilst retaining focus on each one of them, in the process deriving unique sources of competitive advantage from ITC's diversity. Deveshwar has also championed the cause for Sustainability world-wide bringing into focus the need to innovate corporate strategies that not only enhance shareholder value but add significantly to the development of natural and social capital.

Spearheading a journey of growth that has led the Harvard Business Review to rank him as the 7th Best Performing CEO in the world, his stewardship has guided ITC to become India's foremost FMCG marketer, the country's largest and greenest Paperboards and Packaging business, a globally acknowledged pioneer in farmer empowerment through its wide-reaching Agri Business, the second largest Hotel Chain in India and a trailblazer in 'green hoteliering'. The Company's wholly-owned subsidiary, ITC Infotech India Limited, is also one of India's fast-growing IT companies in the mid-tier segment.

Today, ITC is a global exemplar in sustainability and is the only Company in the world of comparable dimensions to be 'carbon positive', 'water positive' and 'solid waste recycling positive'. The Company's businesses generate livelihoods for around 6 million people, many of whom represent the poorest in Rural India. The pioneering farmer empowerment initiative, ITC e-Choupal, is today the world's largest rural digital infrastructure and is a case study at the Harvard Business School besides receiving several global awards. ITC was also conferred the World Business and Development Award 2012 at the Rio+20 United Nations Summit by the United Nations Development Programme, the International Chamber of Commerce and the International Business Leaders Forum for its Social and Farm Forestry Programmes.

Deveshwar has served as a Director on the Central Board of the Reserve Bank of India and as a member of the National Foundation for Corporate Governance. He is also the former Chairman of the Society and Board of Governors of the Indian Institute of Management, Calcutta. He serves on the National Executive Committees of some of India's premier trade and industry bodies, and has served as a member of the UK-India CEOs Forum and US-India CEOs Forum instituted by the respective Governments. Deveshwar is a past President of CII.

In 2011, Deveshwar was conferred the Padma Bhushan, one of the highest civilian awards in the country, by the Government of India. Amongst several other awards and recognitions during his distinguished career, Deveshwar has been honoured with the Global Leadership Award by the US-India Business Council of the US Chamber of Commerce in 2010, the Business Leader of the Year Award from the All India Management Association in 2012, Business Person of the Year Award 2006 by the UK Trade & Investment, and the Sustainability Leadership Award 2007 conferred at Zurich at the International Sustainability Leadership Symposium. He was inducted to the prestigious Hall of Pride at the Indian Science Congress in 2006. Earlier, he was also named Manager Entrepreneur of the Year 2001 by Ernst & Young. The Economic Times has conferred on Deveshwar, the Indian Visionary Business Leader Award and the Smart Green Leader Lifetime Achievement Award, the Bombay Management Association has honoured him with the Management Man of the Year Award, and the Calcutta Management Association has inducted him as the first leader on the Management Hall of Fame.


image of Sanjiv PuriSanjiv Puri

Sanjiv Puri (54), was appointed as a Director on the Board of ITC from December 6, 2015 and Chief Executive Officer (CEO) from February 5, 2017 heading the Corporate Management Committee. He was the Chief Operating Officer (COO) of ITC since July 22, 2016 carrying full responsibility for the day-to-day functioning of the Company. Before taking over as the COO, he was responsible for overseeing the FMCG, Paperboards, Paper & Packaging and Agri Businesses of ITC. Puri is an alumnus of the Indian Institute of Technology, Kanpur and Wharton School of Business. He joined ITC in 1986.

Prior to his appointment on the Board of ITC, Puri was President, FMCG Businesses - Cigarettes, Foods, Personal Care, Education & Stationery Products, Matches and Agarbattis since December 2014. He has handled a wide range of responsibilities including business leadership positions as well as in manufacturing, operations and information & digital technology. Puri became Divisional Chief Executive of the India Tobacco Division in 2009, with additional charge of the Company's Trade Marketing & Distribution function.

He has led ITC Infotech India Limited, a wholly owned subsidiary of ITC, as its Managing Director from May 2006 to August 2009. He was also on the Boards of ITC Infotech's wholly owned subsidiaries in the UK and USA. Puri served between 2001 and 2006 as the Managing Director of Surya Nepal Pvt. Limited, a joint venture subsidiary company of ITC in Nepal. He was a member of the Board of Governors of Media Research Users Council. He has also served as the Chairman of the Agri & Food Processing Taskforce of CII Eastern Region, member of the CII Eastern Regional Council and on the Executive Council of The Indian Society of Advertisers.

Presently, he is on the Boards of some of the subsidiary companies of ITC. He is also the Chairman of the FICCI FMCG Committee and a Member of the FICCI National Executive Committee.


image of Nakul Anandnakul anand

Nakul Anand (59), was appointed as a Director on the Board of ITC effective January 3, 2011. In addition to overseeing the Hospitality, Travel & Tourism businesses of ITC, he has taken over in December 2014, the responsibility for overseeing the Lifestyle Retailing Business.

An Economics Honours graduate from Delhi University with an AMP degree from Bond University, Australia, Anand joined ITC Hotels' Management Training Programme in 1978. He has also served as the Managing Director of erstwhile ITC Hotels Limited during the period 2003-05.

In a career that spans close to four decades, Anand has been acknowledged in the hotels and tourism industry for his vision and commitment. Leveraging the significant learning of sustainable excellence within ITC, he led the team at ITC Hotels to pioneer the concept of 'Responsible Luxury' in the hospitality industry, securing LEED® Platinum certifications for all ITC super premium luxury hotels, making it the 'Greenest Luxury Hotel Chain in the world'. He has formulated value-based strategies to create a unique quality control model. His dynamic leadership and passion for the business is recognised and acknowledged by his peers. He is a member of the National Tourism Advisory Council constituted by the Ministry of Tourism, Government of India, and Chairman of the Federation of Associations in Indian Tourism & Hospitality. Anand has been a past President of the Hotel Association of India and past Chairman of the CII National Tourism Committee.


image of Rajiv TandonRajiv Tandon

Rajiv Tandon (62), was appointed as a Director on the Board of ITC effective January 22, 2016. He is responsible for Finance, Accounting, Internal Audit Functions and Investment Subsidiaries of the Company. Prior to this, he was the Chief Financial Officer of the Company, a position that he continues to hold. A Fellow member of the Institute of Chartered Accountants of India with over three decades of experience, Tandon has held various positions in ITC including Executive Vice President - Finance & MIS of the Tobacco Division, Executive Vice President - Corporate Finance, Finance Advisor and member of the Management Committee of Agri Business and Tobacco Divisions.

He is a Director on the Board of ITC Infotech India Ltd. and its subsidiaries in the UK and the USA. He also chairs the Board of Investment Subsidiaries of ITC.

Tandon was named the 'Best CFO in India' by Business Today in 2013. He has held several important positions in various industry bodies including Chairman of the Expert Committee on Banking and Finance, Indian Chamber of Commerce; Member, Taxation and Company Law Committee, CII; Member, Managing Committee, The Bengal Chamber of Commerce & Industry and is currently a member, CII-CFO Forum as well as a member of the Capital Markets Committee of FICCI.


image of Zafir AlamZafir Alam

Zafir Alam (58) has been appointed as an Additional Non-Executive Director on the Board of ITC Limited on 26th October, 2016, representing the General Insurers' (Public Sector) Association of India. Apart from holding a Diploma in Business Management, he is also an Associate of Insurance Institute of India.

A direct recruit generalist office with United India Insurance Company Limited, he has held various senior positions and has been the Head of several operating Units, including a tenure as Deputy General Manager, Bengaluru Regional Office. He was appointed General Manager of The New India Assurance Company Limited in May 2014, and is currently in charge of its Motor Technical Department which deals with, amongst others, tie-ups with automobile majors.


image of Shilabhadra Banerjeeshilabhadra banerjee

Shilabhadra Banerjee (67), joined the ITC Board as a Non-Executive Director on July 24, 2014 and was appointed as an Independent Director on July 30, 2014.

Banerjee, a Masters in History from St. Stephen's College, Delhi, Post Graduate Diploma holder in Public Administration from the Indian Institute of Public Administration, New Delhi, and an M. Phil in Social Sciences from the University of Panjab, began his career in the Indian Administrative Service in 1971. In a career spanning over 37 years, he has held several eminent positions including that of Joint Secretary in the Ministries of Petroleum & Natural Gas and Urban Development. Banerjee was Director General (Acquisition) in the Ministry of Defence and retired as Secretary, Ministry of Tourism in October 2008. He has been a Visiting Fellow at the Queen Elizabeth House, University of Oxford, UK. Banerjee also served on the Board of the Company from February 2010 to March 2014.

Banerjee does not hold directorship of any other company.


image of Arun DuggalARUN DUGGAL

Arun Duggal (69), joined the ITC Board as a Non-Executive Independent Director on September 15, 2014.

Duggal, a Mechanical Engineer from the Indian Institute of Technology, Delhi, and an MBA from the Indian Institute of Management, Ahmedabad, is an international banker with global experience in financial strategy, M&A and capital raising. His professional career includes 26 years with Bank of America (BoA), primarily in the USA, Hong Kong and Japan, with his last assignment as Chief Executive with BoA, India, from 1998 to 2001. He was the Chief Financial Officer of HCL Technologies Limited, India, from 2001 to 2003. He has also been the Chairman of the American Chamber of Commerce, India, and on the Board of Governors of the National Institute of Bank Management. Duggal is involved in several initiatives in social and educational sectors and is founder of FICCI's Women on Corporate Governance Board Programme.

Duggal is the Chairman of ICRA Limited and International Asset & Reconstruction Company. He is also Director on the Board of Dish TV India Limited among others.



image of S B MainakS B Mainak

S. B. Mainak (60), joined the ITC Board as a Non-Executive Director effective April 25, 2014, representing LIC.

A qualified Chartered Accountant, he joined LIC as a Direct Recruit Officer in 1983 and retired as its Managing Director with effect from 1st March, 2016. During his long tenure at LIC, Mainak acquired wide range of experience in several functions spanning Investments, Finance & Accounts and Marketing and held various positions including Senior / Branch Manager, Divisional Manager of Pension & Group Superannuation and in various capacities in the Investment department.

Mainak also had a stint in academics as Professor (Life Insurance) and Head of Finance Department in National Insurance Academy (NIA), Pune, where he was instrumental in creating new teaching programmes in finance & accounts, investment, GAAP accounting and Insurance Investment and Financial Reporting Standards. Mainak was Deputy President of the Insurance Institute of India and member of the Governing Board of NIA. He was earlier appointed by the Government of India on the Board of Satyam Computer Services Limited as an Independent Director for restructuring the company.

In 2009, he was conferred the 'NDTV Profit Business Leadership Award', 'CNN-IBN Indian of the Year Award' and 'Dataquest IT Person of the Year Award'.

Mainak is the Chairman and Non-Executive Director of Credit Ananlysis and Research Limited. He is also a Non-Executive Director of Mahindra and Mahindra Limited.


image of S B Mathurs b mathur

S. B. Mathur (71), has been on the ITC Board since July 29, 2005, first as a representative of LIC and then in his individual capacity as a Non-Executive Independent Director.

A qualified Chartered Accountant, Mathur retired from LIC in October 2004 as its Chairman. Subsequently, the Government of India appointed him the Administrator of the Specified Undertaking of the Unit Trust of India in December 2004, up to December 2007.

Mathur took over as Chairman of LIC at a time when the insurance sector had just opened up. Under his leadership, LIC successfully rose to the challenges of a competitive environment by enhancing product offerings. He joined LIC in 1967 as a Direct Recruit Officer and rose to the rank of Chairman. He held various positions in LIC including Senior Divisional Manager of Gwalior Division, Chief of Corporate Planning, General Manager of LIC (International) E.C., Zonal Manager in-charge of Western Zone and Executive Director.

Mathur is Director on the Boards of Infrastructure Leasing & Financial Services Limited, DCM Shriram Industries Limited and Havells India Limited among others.


image of P B Ramanujamp b ramanujam

P. B. Ramanujam (71), has been on the Board of ITC since October 30, 1998, first as a representative of GIC and its erstwhile subsidiaries and then in his individual capacity as a Non-Executive Independent Director.

A qualified Chartered Accountant, Ramanujam has held several responsibilities in GIC covering finance, accounts, investments, reinsurance, information technology etc. He was General Manager and Director with NIC, and the Managing Director of GIC till July 31, 2004.

Ramanujam has served as a faculty member at NIA. He was also the Chairman of the Committee appointed by the interim Insurance Regulatory Authority (IRA) for prescribing norms, rules and regulations in the area of finance. He has also been a member of three other IRA Committees on technical issues, investment matters and insurance regulatory information system. He was a member of FICCI's Reinsurance Sub-Committee, the Insurance Tariff Advisory Committee, the Advisory Committee on Finance of the Insurance Regulatory and Development Authority (IRDA), and member of IRDA's Reinsurance Advisory Committee for recommending regulatory changes with regard to capital structure, IPOs, mergers & acquisitions etc. of insurance companies.

Ramanujam does not hold directorship of any other company.


image of Nirupama RaoNirupama Rao

Nirupama Rao (65), was appointed as a Non-Executive Independent Director on the Board of ITC effective April 8, 2016.

A Graduate in English Literature, she was a Fellow of the Harvard University (1992-93), Fellow of the Brown University and a recipient of the degree of Doctor of Letters (Honoris Causa) from the Pondicherry University.

A career diplomat from the Indian Foreign Service from 1973 to 2011, she has served the Government in several important positions including that of the Foreign Secretary of India. She has represented India in several countries during her distinguished career and was the first Indian woman to be appointed High Commissioner to Sri Lanka and Ambassador to China. She was also the first woman spokesperson of the Ministry of External Affairs. After her retirement, she was appointed Ambassador of India to the United States for a tenure of two years.

She is also on the Boards of KEC International Limited, Network18 Media & Investments Limited and TV18 Broadcast Limited among others.


image of S S H Rehmans s h rehman

S. S. H. Rehman (72), was appointed as a Non-Executive Independent Director on the Board of ITC effective July 27, 2012. Rehman's illustrious career began with a tenure in the Indian Army after he graduated from the Indian Military Academy in Dehradun. He moved to the hospitality industry in 1975 and joined ITC in 1979, beginning a three decade association with the Company.

Rehman was appointed Managing Director of erstwhile ITC Hotels Limited in 1994. Subsequently, he joined the Board of ITC as an Executive Director in 1997, and over the next 12 years was responsible for several businesses - Hotels, Travel & Tourism and Foods. During this period, he ably led ITC's Hotels business in consolidating its position as one of India's leading hospitality chains.

Rehman was the founder President of the Hotel Association of India, and a founder member of the World Travel & Tourism Council, Experience India / Incredible India and has headed several industry associations including tourism committees of FICCI, ASSOCHAM and CII. Rehman has been a recipient of several awards and honours, recognising his vast contribution to Indian hospitality industry.

Rehman does not hold directorship of any other company.


image of Meera Shankarmeera shankar

Meera Shankar (65), was appointed as a Non-Executive Independent Director on the Board of ITC effective September 6, 2012.

A Post Graduate in English Literature, she joined the Indian Foreign Service in 1973 and had an illustrious career spanning 38 years. She served in the Prime Minister's Office for six years from 1985 to 1991 working on foreign policy and security matters. Thereafter, she led the Commercial Wing in the Indian Embassy in Washington as Minister (Commerce) till 1995. She returned as Director General of the Indian Council of Cultural Relations overseeing India's cultural diplomacy. She has had extensive experience in South Asia having worked on Bangladesh, Sri Lanka and Maldives as Under Secretary and Deputy Secretary in the Ministry of External Affairs. Later, as Joint Secretary she headed divisions dealing with neighbours, Nepal and Bhutan, and the South Asian Association for Regional Cooperation (SAARC). As Additional Secretary, she handled the UN and international security issues.

She served as Ambassador of India to Germany from 2005 to 2009 and then to the United States from 2009 to 2011.

She is also on the Board of Pidilite Industries Limited and Adani Transmission Limited amongst others.


image of David Robert SimpsonDavid Robert Simpson

David Robert Simpson (59) has been appointed as an Additional Non-Executive Director on the Board of ITC Limited on 27th January, 2017, as a representative of Tobacco Manufacturers (India) Limited, a subsidiary of British American Tobacco p.l.c. Apart from holding a Masters degree from the University of Cambridge, he is a qualified lawyer from the Guildford College of Law.

Simpson started his career in 1979 and has held various leadership positions with major corporates including Barclays de Zoete Wedd Limited and KPMG LLP. At present, he is Chairman of Ecofin Global and Infrastructure Trust plc, Non-Executive Director of Annuity Infrastructure Company Limited and Adviser to The Helen Hamlyn Trust. He has earlier held the position of the Global Head of M&A at KPMG LLP. Simpson has a wide range of expertise and understanding of diverse sectors spanning Investment Banking and Private Equity, Infrastructure, Energy, Transport, Healthcare, Education, Investment Risk Assessment etc.

Terms and conditions of appointment of Independent Directors

Directors' Familiarisation Programme