Over the years, ITC has evolved from a single product company to a multi-business corporation. Its diverse businesses include fast moving consumer goods, hotels, paperboards, paper & packaging and agri business.
The Company's investments in its different businesses are structured in the nature of in-house divisions, subsidiaries, joint ventures, associate companies and trade investments.
The task of governing a corporation of ITC's size and diversity was rendered more complex in post liberalisation India, which began experiencing the intense impact of globalisation. In order to address its own unique organisational context and prepare itself for the global Indian market, ITC, as early as in 1999, fashioned an unique corporate governance model that would enable it to 'focus' on its multiple businesses, while maximising shareholder value.
This governance policy has not only stood the test of time, but also supported ITC's rapid growth in the last two decades since its formulation. In the intervening years, ITC has not only widened its diversity with the launch of several new businesses in its chosen strategic arena, but has also responded to the growth challenge by creating new internal structures like shared services and business verticals, designing broad-band roles like Line CMC Members, Chief Operating Officers of Business / Vertical, and enabling operating decision making powers at empowered levels.