ITC chairman YC Deveshwar may announce a younger successor as he promotes executives

ITC chairman YC Deveshwar, who will retire in 2017, is apparently looking for a younger successor as he elevated executives to greater roles.

Deveshwar announced a string of changes in an internal note on the company's website.

Sanjiv Puri, 52, who is going to be director of the fast-moving consumer goods (FMCG) business including cigarettes from next month, will now also handle paperboard, paper, packaging and printing businesses from January.

This elevation makes him responsible for driving almost 80% of the ITC business.

Meanwhile, the ITC chairman also elevated B Sumant, 52, chief executive of the cigarette business and non-cigarette FMCG trade marketing and distribution, as president of the entire FMCG business.

Not only this, Sumant will also join company's corporate management committee.

Hemant Malik, who was earlier chief executive for the tobacco business, is also elevated as chief executive for both cigarette and FMCG distribution.

(Image: Indiatimes)