ITC chairman YC Deveshwar rejigs organisational structure

The two new faces on ITC board will be Puri, and Rajiv Tandon, CFO, whose appointment will take effect on January 22.

ITC has rejigged its organisational structure on Wednesday. In a letter to top management officials, YC Deveshwar has said that B Sumant will take over as president-FMCG from Sanjiv Puri from April 1, 2016.

With effect from 6th December, all those reporting to Dhobale will vest from Puri.

Puri, and Rajiv Tandon, CFO, whose appointment will take effect on January 22.

Puri will join from December 6, 2015, and eventually become executive director and Rajiv Tandon, CFO, whose appointment will take effect on January 22, when Grant steps down. 

B Sumant will take responsibility from Puri from 1st April, 2016, while 

Hemant Malik will take up responsibility of Sumant from April 1, who was chief operating officer of tobacco division.

ITC Ltd ended at Rs. 336, down by Rs. 1.4 or 0.41% from its previous closing of Rs. 337.4 on the BSE.

The scrip opened at Rs. 338.7 and touched a high and low of Rs. 339.4 and Rs. 332.4 respectively. A total of 8888067(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 269890.29 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 409.7 on 28-Feb-2015 and a 52 week low of Rs. 294.5 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 353 and Rs. 332.4 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.81 % and 43.94 % respectively.

The stock traded below its 50 DMA.