ITC chief Puri to get a 5-year extension

KOLKATA: Diversified conglomerate

ITC

has proposed a five-year extension for its chairman and managing director

Sanjiv Puri

.
His present term would complete on July 21, 2024. The proposal of extension of the 61-year-old

CMD

has to be ratified by the shareholders of ITC at the company’s AGM to be held on August 11.
The salary of Sanjiv Puri has got a 52% jump to touch Rs 16. 3 crore in FY23 from Rs 10. 7 crore in the year-ago period. The basic/consolidated salary became Rs 2. 9 crore from Rs 2. 6 crore and the rest were performance incentives, bonus and other benefits.
The members at the 107th AGM, held in 2018, approved the appointment of Puri as the MD of the company for a period of five years with effect from July 22, 2019. Later, he became the chairman as well along with the MD . , The tenure of Puri would continue till July 2029. Puri joined ITC in January 1986.