ITC announces retirement of two top executives; Sanjiv Puri may replace YC Deveshwar
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It's preferring President of Cigarettes and
The company has also appointed Puri and
An engineering graduate from IIT Kanpur who joined the company in 1986, Puri was promoted last December as the president of both the cigarettes and FMCG businesses of ITC, after handling FMCG distribution and cigarette business as divisional chief executive.
The company missed street estimates for its second quarter financial results and its share fell by 4.3% to Rs 334.70. The company attributed its weak performance to "unprecedented pressure" on legal cigarette industry sales volume, poor demand prevailing in the FMCG industry with instant noodle sales badly hit, and lack of trading opportunities in agri-commodities.
(Image credit: BCCL)
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