ITC, the tobacco-to-hotels major, may split the top management position into two even as its current chairman, Y C Deveshwar, is tipped to get a fresh five year term, part of it in a non-executive role.
According to a report in the TOI, the board has been discussing a successor to Deveshwar for last few months. "The nomination committee was working on this. One of the options is to create a post of MD or CEO which ITC never had earlier," an ITC board member said.
The company's topline was Rs 5,000 crore, which has grown nearly six times since then. Post-tax profit during the period grew from Rs 260 crore to about Rs 4,987 crore during the same period. He was also instrumental in the turning around hotels and paperboard businesses.
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