Sanjiv Puri took over as ITC chairman after the death of YC Deveshwar on May 11, 2019. (Source: BloombergQuint)

ITC Chairman Sanjiv Puri’s Salary Rose 51% In 2018-19, Shows Annual Report

ITC Ltd. chairman and managing director Sanjiv Puri’s salary rose 51 percent year-on-year to Rs 6.61 crore in 2018-19.

Puri’s remuneration in 2018-19 included a basic salary of Rs 1.44 crore, perks worth Rs 40 lakh and a performance bonus of Rs 4.32 crore, , according to the firm’s ‘Report and Accounts 2019’ document submitted to the exchanges. He took over as ITC chairman after the death of YC Deveshwar on May 11, 2019.

Moreover, the total number of ITC employees getting a total salary of over Rs 1 crore is now 91, ITC said in its annual report for 2018-19.

ITC executive director N Anand’s total remuneration stood at Rs 3.62 crore, while chief financial officer R Tandon received Rs 3.2 crore, the report stated.

The total number of ITC employees stood at 27,279 as on March 31, 2019.

For 2018-19, ITC reported a revenue of Rs 45,784.39 crore and a net profit of Rs 12,464.32 crore. Its gross sales value for the fiscal was at Rs 75,309 crore.

The Kolkata-headquartered firm, which gets around half its revenue from cigarettes, is expanding its portfolio into food and fast moving consumer goods segment as part of its diversification.

Puri was set to take over as the ITC chairman in 2021-22 and was being groomed for the role by Deveshwar. He was appointed as the chief executive of the Kolkata-based firm on Feb. 5, 2017, and re-designated as managing director on May 16, 2018.

Bloomberg Quint

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