itc incorporated

8/8/2019 ITC Incorporated

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ITC was incorporated on August 24, 1910 under the name Imperial Tobacco Companyof India Limited. As the Company's ownership progressively Indianised, the name of theCompany was changed from Imperial Tobacco Company of India Limited to IndiaTobacco Company Limited in 1970 and then to I.T.C. Limited in 1974. In recognitionof the Company's multi-business portfolio encompassing a wide range of businesses -

Cigarettes & Tobacco, Hotels, Information Technology, Packaging, Paperboards &Specialty Papers, Agri-business, Foods, Lifestyle Retailing, Education & Stationery andPersonal Care - the full stops in the Company's name were removed effectiveSeptember 18, 2001. The Company now stands rechristened 'ITC Limited'.

The Companys beginnings were humble. A leased office on Radha Bazar Lane,Kolkata, was the centre of the Company's existence. The Company celebrated its 16thbirthday on August 24, 1926, by purchasing the plot of land situated at 37,Chowringhee, (now renamed J.L. Nehru Road) Kolkata, for the sum of Rs 310,000. Thisdecision of the Company was historic in more ways than one. It was to mark thebeginning of a long and eventful journey into India's future. The Company's headquarter

building, 'Virginia House', which came up on that plot of land two years later, would goon to become one of Kolkata's most venerated landmarks.

Though the first six decades of the Company's existence were primarily devoted to thegrowth and consolidation of the Cigarettes and Leaf Tobacco businesses, theSeventies witnessed the beginnings of a corporate transformation that would usher inmomentous changes in the life of the Company.

ITC's Packaging & Printing Business was set up in 1925 as a strategic backwardintegration for ITC's Cigarettes business. It is today India's most sophisticatedpackaging house.

In 1975 the Company launched its Hotels business with the acquisition of a hotel inChennai which was rechristened 'ITC-Welcomgroup Hotel Chola'. The objective ofITC's entry into the hotels business was rooted in the concept of creating value for thenation. ITC chose the hotels business for its potential to earn high levels of foreignexchange, create tourism infrastructure and generate large scale direct and indirectemployment. Since then ITC's Hotels business has grown to occupy a position ofleadership, with over 100 owned and managed properties spread across India.

In 1979, ITC entered the Paperboards business by promoting ITC BhadrachalamPaperboards Limited, which today has become the market leader in India.

Bhadrachalam Paperboards amalgamated with the Company effective March 13, 2002and became a Division of the Company, Bhadrachalam Paperboards Division. InNovember 2002, this division merged with the Company's Tribeni Tissues Division toform the Paperboards & Specialty Papers Division. ITC's paperboards' technology,productivity, quality and manufacturing processes are comparable to the best in theworld. It has also made an immense contribution to the development of Sarapaka, aneconomically backward area in the state of Andhra Pradesh. It is directly involved ineducation, environmental protection and community development. In 2004, ITC
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acquired the paperboard manufacturing facility of BILT Industrial Packaging Co. Ltd(BIPCO), near Coimbatore, Tamil Nadu. The Kovai Unit allows ITC to improve customerservice with reduced lead time and a wider product range.

In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepal and British joint

venture. Since inception, its shares have been held by ITC, British American Tobaccoand various independent shareholders in Nepal. In August 2002, Surya Tobaccobecame a subsidiary of ITC Limited and its name was changed to Surya Nepal PrivateLimited (Surya Nepal).

In 1990, ITC acquired Tribeni Tissues Limited, a Specialty paper manufacturingcompany and a major supplier of tissue paper to the cigarette industry. The mergedentity was named the Tribeni Tissues Division (TTD). To harness strategic andoperational synergies, TTD was merged with the Bhadrachalam Paperboards Division

to form the Paperboards & Specialty Papers Division in November 2002.

Also in 1990, leveraging its agri-sourcing competency, ITC set up the Agri BusinessDivision for export of agri-commodities. The Division is today one of India's largestexporters. ITC's unique and now widely acknowledged e-Choupal initiative began in2000 with soya farmers in Madhya Pradesh. Now it extends to 10 states covering over 4million farmers. ITC's first rural mall, christened 'Choupal Saagar' was inaugurated inAugust 2004 at Sehore. On the rural retail front, 24 'Choupal Saagars' are nowoperatonal in the 3 states of Madhya Pradesh, Maharashtra and Uttar Pradesh.

In 2000, ITC forayed into the Greeting, Gifting and Stationery products business with

the launch of Expressions range of greeting cards. A line of premium range ofnotebooks under brand Paperkraft was launched in 2002. To augment its offeringand to reach a wider student population, the popular range of notebooks was launchedunder brand Classmate in 2003. Classmate over the years has grown to becomeIndias largest notebook brand and has also increased its portfolio to occupy agreater share of the school bag. Years 2007- 2009 saw the launch of Children Books,Slam Books, Geometry Boxes, Pens and Pencils under the Classmate brand. In2008, ITC repositioned the business as the Education and Stationery ProductsBusiness and launched India's first environment friendly premium business paperunder the Paperkraft Brand. Paperkraft offers a diverse portfolio in the premiumexecutive stationery and office consumables segment. Paperkraft entered newcategories in the office consumable segment with the launch of Textliners, PermanentInk Markers and White Board Markers in 2009.

ITC also entered the Lifestyle Retailing business with the Wills Sport range ofinternational quality relaxed wear for men and women in 2000. The Wills Lifestyle chainof exclusive stores later expanded its range to include Wills Classic formal wear(2002) and Wills Clublife evening wear (2003). ITC also initiated a foray into thepopular segment with its men's wear brand, John Players, in 2002. In 2006, Wills


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Lifestyle became title partner of the country's most premier fashion event - WillsLifestyle India Fashion Week - that has gained recognition from buyers and retailersas the single largest B-2-B platform for the Fashion Design industry. To mark theoccasion, ITC launched a special 'Celebration Series', taking the event forward toconsumers.

In 2000, ITC spun off its information technology business into a wholly ownedsubsidiary, ITC Infotech India Limited, to more aggressively pursue emergingopportunities in this area. Today ITC Infotech is one of Indias fastest growing global ITand IT-enabled services companies and has established itself as a key player inoffshore outsourcing, providing outsourced IT solutions and services to leading globalcustomers across key focus verticals - Manufacturing, BFSI (Banking, FinancialServices & Insurance), CPG&R (Consumer Packaged Goods & Retail), THT (Travel,Hospitality and Transportation) and Media & Entertainment.

ITC's foray into the Foods business is an outstanding example of successfully blendingmultiple internal competencies to create a new driver of business growth. It began inAugust 2001 with the introduction of 'Kitchens of India' ready-to-eat Indian gourmetdishes. In 2002, ITC entered the confectionery and staples segments with the launch ofthe brands mint-o and Candyman confectionery and Aashirvaad atta (wheat flour).2003 witnessed the introduction of Sunfeast as the Company entered the biscuitssegment. ITC's entered the fast growing branded snacks category with Bingo! in 2007.In eight years, the Foods business has grown to a significant size with over 200differentiated products under six distinctive brands, with an enviable distribution reach, arapidly growing market share and a solid market standing.

In 2002, ITC's philosophy of contributing to enhancing the competitiveness of the entirevalue chain found yet another expression in the Safety Matches initiative. ITC nowmarkets popular safety matches brands like iKno, Mangaldeep, Aim, Aim Mega andAim Metro.

ITC's foray into the marketing of Agarbattis (incense sticks) in 2003 marked themanifestation of its partnership with the cottage sector. ITC's popular agarbattis brandsinclude Spriha and Mangaldeep across a range of fragrances like Rose, Jasmine,Bouquet, Sandalwood, Madhur, Sambrani and Nagchampa.

ITC introduced Essenza Di Wills, an exclusive range of fine fragrances and bath &body care products for men and women in July 2005. Inizio, the signature range underEssenza Di Wills provides a comprehensive grooming regimen with distinct lines formen (Inizio Homme) and women (Inizio Femme). Continuing with its tradition ofbringing world class products to Indian consumers the Company launched 'Fiama DiWills', a premium range of Shampoos, Shower Gels and Soaps in September, Octoberand December 2007 respectively. The Company also launched the 'Superia' range ofSoaps and Shampoos in the mass-market segment at select markets in October 2007


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and Vivel De Wills & Vivel range of soaps in February and Vivel range of shampoos inJune 2008.

ITC is one of India's foremost private sector companies with a market capitalisation ofover US $ 22 billion and a turnover of US $ 6 billion.* ITC is rated among the World's

Best Big Companies, Asia's 'Fab 50' and the World's Most Reputable Companies byForbes magazine, among India's Most Respected Companies by BusinessWorld andamong India's Most Valuable Companies by Business Today. ITC ranks among India's`10 Most Valuable (Company) Brands', in a study conducted by Brand Finance andpublished by the Economic Times. ITC also ranks among Asia's 50 best performingcompanies compiled by Business Week.

ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers,Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology,Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCGproducts. While ITC is an outstanding market leader in its traditional businesses of

Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports, it is rapidly gainingmarket share even in its nascent businesses of Packaged Foods & Confectionery,Branded Apparel, Personal Care and Stationery.

As one of India's most valuable and respected corporations, ITC is widely perceived tobe dedicatedly nation-oriented. Chairman Y C Deveshwar calls this source of inspiration"a commitment beyond the market". In his own words: "ITC believes that its aspiration tocreate enduring value for the nation provides the motive force to sustain growingshareholder value. ITC practices this philosophy by not only driving each of itsbusinesses towards international competitiveness but by also consciously contributingto enhancing the competitiveness of the larger value chain of which it is a part."

ITC's diversified status originates from its corporate strategy aimed at creating multipledrivers of growth anchored on its time-tested core competencies: unmatcheddistribution reach, superior brand-building capabilities, effective supply chainmanagement and acknowledged service skills in hoteliering. Over time, the strategicforays into new businesses are expected to garner a significant share of these emerginghigh-growth markets in India.

ITC's Agri-Business is one of India's largest exporters of agricultural products. ITC isone of the country's biggest foreign exchange earners (US $ 3.2 billion in the lastdecade). The Company's 'e-Choupal' initiative is enabling Indian agriculture significantlyenhance its competitiveness by empowering Indian farmers through the power of theInternet. This transformational strategy, which has already become the subject matter ofa case study at Harvard Business School, is expected to progressively create for ITC ahuge rural distribution infrastructure, significantly enhancing the Company's marketingreach.


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ITC's wholly owned Information Technology subsidiary, ITC Infotech India Ltd, providesIT services and solutions to leading global customers. ITC Infotech has carved a nichefor itself by addressing customer challenges through innovative IT solutions.

ITC's production facilities and hotels have won numerous national and international

awards for quality, productivity, safety and environment management systems. ITC wasthe first company in India to voluntarily seek a corporate governance rating.

ITC employs over 26,000 people at more than 60 locations across India. The Companycontinuously endeavors to enhance its wealth generating capabilities in a globalisingenvironment to consistently reward more than 3,53,000 shareholders, fulfill theaspirations of its stakeholders and meet societal expectations. This over-arching visionof the company is expressively captured in its corporate positioning statement:"Enduring Value. For the nation. For the Shareholder."

B O A R D O F D I R E C T O R S

CHAI RMAN

Y C Deveshwar

EXECUTI VE D I RECTORS

Anup Singh K Vaidyanath K N Grant

NON-EXECUTI VE D I RECTORS

A Baijal S Banerjee AV Girija Kumar

S H Khan S B Mathur D K Mehrotra

H G Powell P B Ramanujam Anthony Ruys

Basudeb Sen B Vijayaraghavan
http://www.itcportal.com/itc_leadership/directors.html#ycdhttp://www.itcportal.com/itc_leadership/directors.html#asinghhttp://www.itcportal.com/itc_leadership/directors.html#kvaidyanathhttp://www.itcportal.com/itc_leadership/directors.html#granthttp://www.itcportal.com/itc_leadership/directors.html#anilhttp://www.itcportal.com/itc_leadership/directors.html#banerjeehttp://www.itcportal.com/itc_leadership/directors.html#avgkhttp://www.itcportal.com/itc_leadership/directors.html#shkhttp://www.itcportal.com/itc_leadership/directors.html#sbmathurhttp://www.itcportal.com/itc_leadership/directors.html#mehrotrahttp://www.itcportal.com/itc_leadership/directors.html#hgpowellhttp://www.itcportal.com/itc_leadership/directors.html#ramanujamhttp://www.itcportal.com/itc_leadership/directors.html#anthonyhttp://www.itcportal.com/itc_leadership/directors.html#basudebhttp://www.itcportal.com/itc_leadership/directors.html#vijayaraghavanhttp://www.itcportal.com/itc_leadership/directors.html#ycdhttp://www.itcportal.com/itc_leadership/directors.html#asinghhttp://www.itcportal.com/itc_leadership/directors.html#kvaidyanathhttp://www.itcportal.com/itc_leadership/directors.html#granthttp://www.itcportal.com/itc_leadership/directors.html#anilhttp://www.itcportal.com/itc_leadership/directors.html#banerjeehttp://www.itcportal.com/itc_leadership/directors.html#avgkhttp://www.itcportal.com/itc_leadership/directors.html#shkhttp://www.itcportal.com/itc_leadership/directors.html#sbmathurhttp://www.itcportal.com/itc_leadership/directors.html#mehrotrahttp://www.itcportal.com/itc_leadership/directors.html#hgpowellhttp://www.itcportal.com/itc_leadership/directors.html#ramanujamhttp://www.itcportal.com/itc_leadership/directors.html#anthonyhttp://www.itcportal.com/itc_leadership/directors.html#basudebhttp://www.itcportal.com/itc_leadership/directors.html#vijayaraghavan


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Y C Deveshwar

Y C Deveshwar (63), an engineering graduate from theIndian Institute of Technology, Delhi joined ITCLimited in 1968. He was appointed as a Director on theBoard of the Company in 1984 and became the Chief

Executive and Chairman of the Board on January 1, 1996. Between 1991 and1994, he led Air India as Chairman and Managing Director.

Under his leadership, ITCs Sustainability efforts were given shape through uniquebusiness models. ITC became the first Indian company to publish its SustainabilityReport, 2004 in accordance with the guidelines of the Global Reporting Initiative.For the efforts at creating sustainable livelihood opportunities, ITC also won theinaugural World Business Award instituted jointly by the United NationsDevelopment Program (UNDP), International Chamber of Commerce (ICC) and theHRH Prince of Wales International Business Leader's Forum (IBLF). ITCs e-Choupal, a digital infrastructure initiative to empower marginal farmers in India, istaught as a case study at the Harvard Business School. This initiative won theDevelopment Gateway award at Beijing in September 2005 and the StockholmChallenge Award in May 2006.

Deveshwar is the Past President of the Confederation of Indian Industry. He is alsoa member of the Board of Governors of the Indian School of Business and theformer Chairman of the Society and Board of Governors of the Indian Institute ofManagement, Calcutta. He also serves on the National Executive Committees ofsome of Indias premier trade and industry bodies.

Amongst several awards and recognitions during his distinguished career,Deveshwar has been honoured with the Global Leadership Award 2010 by theU.S.- India Business Council of the US Chamber of Commerce, the SAM/SPGSustainability Leadership Award 2007 conferred at the International Sustainability

Leadership Symposium, the Business Person of the Year Award 2006 by the UKTrade & Investment by His Royal Highness Prince Andrew, the Duke of York. InJanuary 2006, he was inducted to the prestigious Hall of Pride at the IndianScience Congress. He was also named the Manager Entrepreneur of the Year2001 by Ernst & Young.


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.

Anup S i ngh

Anup Singh (65) was appointed a Director onthe Board of ITC on November 21, 1997. Uponcompletion of his current term, he has beenappointed an Additional Wholetime Directoreffective 22nd March, 2010, to hold office until

the forthcoming Annual General Meeting of theCompany.

Singh currently holds responsibility for the Company's Agri BusinessDivision, R&D, Central Projects Organisation and environment,Occupational Health & Safety functions.

He has in the past held responsibility for the Companys Cigarettes,Foods, Personal Care, Lifestyle Retailing and Information Technologybusinesses.

An Electrical Engineer from IIT Kharagpur, he has played a key rolein initiating modernisation and quality and technology upgradation invarious businesses across ITC. He was instrumental in implementingthe concept of Management by Objectives (MBO), a strategicinitiative of the Company in the seventies.

Prior to his appointment as Director, he led the Companys Cigaretteand Specialty Papers Business as its Chief Executive.

He is a Director of the Tobacco Institute of India. He is also the pastPresident of The Bengal Chamber of Commerce and Industry and the

Indian Chamber of Commerce.


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K Va i dyana t h

K Vaidyanath (60) was appointed a Director on the Board ofITC on January 17, 2001. He holds responsibility for theCompany's Finance, Internal Audit and CorporateCommunications functions, its investment subsidiary, itsPaperboards & Specialty Papers, Packaging and InformationTechnology businesses. He is also the Chairman of ITC

Infotech India Limited and its subsidiaries, ITC Infotech Limited, UK and ITCInfotech (USA) Inc. Before his elevation to the Board, he was the Company's ChiefFinancial Officer. An MBA from XLRI, Jamshedpur, Vaidyanath has been with ITCfor the past 34 years. He has held various positions in the Company's Financefunction including that of Head of Finance of ITC's Packaging, Hotels and AgriBusinesses. He has also been Head of Corporate Planning & Treasury, as well asInternal Audit. He has in the past held responsibility for the Company's Agri,Education and Stationery Products, Matches and Agarbatti businesses. He is arecipient of the 'Best CFO' award from Business Today and the `Best CFO in theFMCG category award from CNBC-TV18.

Ku rush N Gran t

Kurush N Grant (52) was appointed a Director on the Boardof ITC on March 20, 2010. He oversees ITC's FMCGbusinesses - Cigarettes, Foods, Personal Care, LifestyleRetailing, Education and Stationery Products, Matches andAgarbattis. After completing his MBA in 1979, he workedwith DCM as a Management Trainee before joining ITC in

1980 in the Marketing function of the Tobacco Division. During his tenure in the

Division, he has handled a wide range of responsibilities in Sales, BrandManagement and Product Development. He was Executive Vice President,Marketing of the Tobacco Division before becoming Divisional Chief Executive in1999.

He has been involved in the incubation and development of all ITC's new initiativesin the FMCG sector. He is a Director on the Boards of King Maker Marketing Inc.,USA and Surya Nepal Private Limited Nepal. He is also the Non Executive


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Chairman of Wimco Ltd. He is Chairman, CII Eastern Region,and is also on theExecutive Committee of the Indian Chamber of Commerce. He is the ViceChairman of the Indian Society of Advertisers. He has been a past Chairman of theNational Readership Studies Council, as well as the Audit Bureau of Circulations,

India.

An i l Ba i j a l

Anil Baijal (63) joined the ITC Board as a Non-ExecutiveIndependent Director on January 22, 2010. Prior to this, herepresented the Specified Undertaking of the Unit Trust ofIndia on the ITC Board from July 2007 to August 2009.

Baijal joined the Indian Administrative Service in 1969 fromthe Union Territories Cadre. In a career spanning over 37 years, Mr. Baijal hasheld various important responsibilities including that of the Union Home Secretary,Chairman & Managing Director, Indian Airlines, Chief Executive Officer, PrasarBharti Corporation, Vice-Chairman, Delhi Development Authority, Development

Commissioner, Goa, and Counselor in-charge of the Indian Aid Programme inNepal. He retired in October 2006 as Secretary, Ministry of Urban Development,Government of India. He piloted the flagship programme - Jawaharlal Nehru UrbanRenewal Mission - for improving infrastructure and basic services in the country.

Currently, he is a Senior Advisor to the Infrastructure Development & FinanceCompany Ltd. (IDFC) and Chairman of IDFC Foundation. In addition, he is theSecretary General of the Federation of Indian Airlines.

He is also on the Boards of DLF Pramerica Life InsuranceCompany Limited, Minerals & Metals Trading Corporation of

India Limited (MMTC) and International Travel HouseLimited.

Sh i l abhad ra Baner j ee

Shilabhadra Banerjee (61) joined the ITC Board as a


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representative of the Specified Undertaking of the Unit Trust of India (SUUTI) onFebruary 4, 2010.

Banerjee, a Masters in History from St. Stephens College, Delhi, began his career

in the Indian Administrative Services in 1971 from the Andhra Pradesh Cadre. In acareer spanning over 37 years, he has held several eminent positions includingthat of Joint Secretary in the Ministries of Petroleum & Natural Gas and UrbanDevelopment. Banerjee was Director General (Acquisition) in the Ministry ofDefence and retired as Secretary, Ministry of Tourism in October 2008. Banerjeespearheaded the infrastructure upgradation at important tourist destinations inIndia and played a key role in articulating India's response to climate changeissues relating to the tourism sector. He received a Post Graduate Diploma inPublic Administration from the Indian Institute of Public Administration, New Delhiin 1992 and an M. Phil degree in Social Sciences from the University of Panjab thesame year. Banerjee has been a Visiting Fellow at the Queen Elizabeth House,

University of Oxford, U.K. and the National Institute of Urban Affairs, New Delhi. Heis currently a Director of IFCI Limited.

AV G i r i j a Kumar

A. V. Girija Kumar (50) joined the ITC Board as arepresentative of the General Insurers (Public Sector)Association of India on March 19, 2010. He holds a Masters

Degree in Business Administration from Jawaharlal NehruTechnological University.

In a career spanning over 28 years, Girija Kumar was with New India AssuranceCo. Limited (New India). In New India, he worked at many centres across India,holding various positions including that of Divisional Manager, Senior DivisionalManager and Regional Chief before moving to the Corporate Office in Mumbai, asDeputy General Manager overseeing Techno-marketing, Foreign BusinessDevelopment and Investments.

On secondment, he was posted as General Manager (Non-Life), Saudi Indian

Company for Cooperative Insurance in Saudi Arabia. His responsibilities includedfacilitating an IPO to raise capital and completing the legal formation of thecompany in the Kingdom of Saudi Arabia. He joined National Insurance CompanyLimited (NIC) as a General Manager in 2009. He is currently a Director of NIC.


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S H Khan

S H Khan (71) joined the ITC Board as a Non-Executive

Independent Director on October 30, 2006. Khan is theformer Chairman and Managing Director of IndustrialDevelopment Bank of India. He holds a Masters Degree inCommerce and is a university Gold Medalist. He is analumnus of International Management Development Institute,

Lausanne. He started his professional career with RBI and after serving it for a fewyears moved over to IDBI in 1966. He served IDBI in various capacities for overthree decades and retired as its Chairman and Managing Director in 1998. Duringhis tenure as Chairman, IDBI made impressive growth in its operations and profits.He was instrumental in expanding its activities to several new areas likecommercial banking, asset management and stock broking. He played an

important role in the promotion of two premier capital market institutions viz., NSEand NSDL and guided their operations for 5 years as their first Chairman. He wasalso involved in the promotion of the rating agency, CARE and served as itsChairman for 10 years. Khan in his capacity as IDBI Chairman has served on theBoards of a number of important institutions such as UTI, LIC, GIC, IFCI, EximBank, Deposit Insurance Corporation, Indian Airlines and Air India. Currently heserves as an Independent Director on the Boards of several companies includingBajaj Auto Ltd, Infrastructure Development Finance Company and Apollo HealthStreet Limited.

S B Ma t hu r

S B Mathur (65) has been on the ITC Board since July 292005, first as a representative of Life Insurance Corporationof India (LIC) and then in his individual capacity. A qualifiedChartered Accountant, Mathur retired from Life InsuranceCorporation of India in October 2004 as its Chairman.

Subsequently, the Government of India appointed him the Administrator of theSpecified Undertaking of the Unit Trust of India (SUUTI) in December 2004, up to

December 2007.

Mathur took over as Chairman of Life Insurance Corporation of India at a timewhen the insurance sector had just opened up. Under his leadership, LICsuccessfully rose to the challenges of a competitive environment by enhancingproduct offerings.

He joined Life Insurance Corporation of India in 1967 as a Direct recruit officer and


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rose to the rank of Chairman. He held various positions in LIC including SeniorDivisional Manager of Gwalior division, Chief of Corporate Planning, GeneralManager of LIC (International) E.C., Zonal Manager in charge of Western Zoneand Executive Director.

Mathur is currently Non Executive Chairman of National Stock Exchange of IndiaLtd. He is a Director on the Boards of Infrastructure Leasing & Financial ServicesLimited, DCM Shriram Industries Limited and Havells India Limited among others.

D K Mehro t ra

D K Mehrotra (57) has been on the ITC Board since May 26,2006 first as a representative of the Specified Undertaking of

the Unit Trust of India (SUUTI) and then as a representativeof Life Insurance Corporation of India (LIC). He is currentlythe Managing Director of LIC. He joined LIC as a DirectRecruit Officer in 1977.

Mehrotra is an Honours Graduate in Science from the Patna University. In anillustrious career spanning 30 years, Mehrotra has held various important positionsspanning three Zones and the Corporate Office of LIC. He was Executive Director(International Operations) before being appointed Managing Director.

Mehrotra has attended several important knowledge forums in India and abroad.

He is associated with the apex training institutes of insurance in India, like theNational Insurance Academy and the Insurance Institute of India. He is also amember of the Supervisory Board of India Advantage Funds I & II of the ICICIVenture Funds Management Company Limited. He is a Director on the Boards ofACC Limited and Infrastructure Leasing & Financial Services Limited, amongothers.

H G Powe l l

H G Powell (65) joined the ITC Board as a representative ofBAT on May 7, 2008. Powell's career spanning almost 40years began in 1963 when he joined Unilever in itsManagement Development Scheme. He trained with LeverBrothers for 5 years in the Marketing and Sales functions.In 1968, he joined Warner-Lambert Inc. as Brand Manager

and became General Manager, Consumer Products, in 1975. A year later, hejoined Standard Brands in Canada and assumed charge as President of Lowney's


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Confectionery. Two years later, Powell joined Jacobs Suchard as President ofNabob Foods. He later shifted to Germany to head Jacobs Suchard's coffee andchocolate unit.

In 1984, he joined John Labatt Ltd in Canada and was President of a number of itsbusinesses, including McGavin's Bakeries, Everfresh Juice Company in Chicago,Ontario Breweries and Labatt Brewing Company. In 1995, he took over as ChiefExecutive Officer of Interbrew Americas and then of Interbrew SA in 1999. Powellretired from Interbrew SA in 2002.

Since July 2004, he is on the Board of Directors of Reynolds American Inc.

P B Ramanu j am

P. B. Ramanujam (65) has been on the Board of ITC sinceOctober 30, 1998, first as a representative of the GeneralInsurance Corporation of India (GIC) and its erstwhilesubsidiaries and then in his individual capacity as a Non-Executive Independent Director. A qualified CharteredAccountant, Ramanujam has held several responsibilities in

GIC covering finance, accounts, investments, reinsurance,information technologyetc. He was General Manager and Director with the National Insurance CompanyLimited, and the Managing Director of GIC till July 31, 2004.

Ramanujam has served as a faculty member at the National Insurance Academy,Pune. He was also the Chairman of the Committee appointed by the interimInsurance Regulatory Authority (IRA) for prescribing norms, rules and regulationsin the area of finance. He has also been a member of three other IRA Committeeson technical issues, investment matters and insurance regulatory informationsystem. He was a member of FICCIs Reinsurance Sub-Committee, the InsuranceTariff Advisory Committee and the Advisory Committee on Finance of theInsurance Regulatory and Development Authority (IRDA). Currently he is amember of IRDAs Reinsurance Advisory Committee and the Committee tosuggest regulatory changes with regard to capital structure, IPOs, mergers &acquisitions etc. of insurance companies. He is also a member of the Educational

Advisory Council of the School of Management, SRM University, Tamil Nadu.


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Ant hony Ruys

Anthony Ruys (62) joined the ITC Board as a

representative of BAT on January 20, 2009. Heholds a degree in commercial law from theUniversity of Utrecht and a Master's degree(AMP 104) from the Harvard Business School.

Ruys commenced his career with Unilever in 1974. During his longtenure with Unilever, he served at various senior positions, includingthat of marketing director and chairman of various subsidiarycompanies in the Netherlands, Colombia and Italy. In 1993, he joinedHeineken as a member of its Executive Board, became Vice-Chairman in 1996 & Chairman in 2002 and remained in that position

till 2005. In March 2006, he was appointed to the Board of BAT as aNon-Executive Director. Currently, Ruys is also on the Boards ofLottomatica SpA, Schiphol Group NV, Janivo Holdings BV, besidesserving as Chairman on the Board of Trustees of Rijksmuseum, AidsFoundation and Madurodam (Miniature City).

Basudeb Sen

Basudeb Sen (61) has been on the Board of ITCsince March 23,1995, first as a nominee andthen as a representative of the Unit Trust ofIndia (UTI), and from July 28, 2000 in hisindividual capacity as a Non-ExecutiveIndependent Director. Sen has over 32 years of

management experience in different areas of commercial banking,coal mining, development banking and investment management. Heis an M.A. in Economics from the University of Calcutta and a Ph.D.from the Indian Statistical Institute, besides being an alumnus of theHarvard Business School.

Sen has been associated with management education as director /visiting faculty of various business schools and as course director inexecutive development programmes. He has contributed severalarticles in academic/ professional journals and financial papers on awide range of issues related to management, economics, banking,financial markets and energy.

He has served as Chairman and Managing Director of the Industrial


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BIBLIOGRAPHY

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