As per media report, ITC has appointed Sandeep Sule as the new CEO of its FMCG and cigarette distribution business.
Sule has held various roles and responsibilities in the company over the past 25 years. Sule was earlier the Chief Operating Officer of the distribution business for a year.
He takes over from B Sumant who was handling the two responsibilities of distribution and handling the overall FMCG business, including cigarettes, as its President, said the ET report.
Sumant, who is also a corporate management committee member at ITC, will continue as the President of FMCG business.
As one of India's most valuable and respected corporations, ITC is widely perceived to be 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 to create enduring value for the nation provides the motive force to sustain growing shareholder value. ITC practices this philosophy by not only driving each of its businesses towards international competitiveness but by also consciously contributing to enhancing the competitiveness of the larger value chain of which it is a part."
The competitiveness of ITC’s diverse businesses rest on the strong foundations of institutional strengths derived from its deep consumer insights, cutting-edge Research & Development, differentiated product development capacity, brand-building capability, world-class manufacturing infrastructure, extensive rural linkages, efficient trade marketing and distribution network and dedicated human resources. ITC’s ability to leverage internal synergies residing across its diverse businesses lends a unique source of competitive advantage to its products and services.