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Our Corporate Bureau
Calcutta, Aug 12: The board of ITC has decided to periodically review the recently-implemented corporate-governance code and is the process of refining it, chairman YC Deveshwar said on Wednesday.
The company's decision-making has been divided among three levels. The board is entrusted with the responsibility of "strategic supervision" and fulfilling statutory obligations. At present, the board comprises five executive directors and eight non-executive directors.
The board discharges its responsibilities related to senior-level nominations, remuneration, legal and safety compliance on the recommendations of specific sub-committees. With the exception of the nominations committee, which is headed by the chairman, all other sub-committees are chaired by non-executive directors.
The company's strategic management is delegated to the corporate-management committee, comprising wholetime directors and some senior-management members. Its job is to review the progress of strategic business plans and enjoys the Calcutta, Aug 12: The board of ITC has decided to periodically review the recently-implemented corporate-governance code and is the process of refining it, chairman YC Deveshwar said on Wednesday.
The company's decision-making has been divided among three levels. The board is entrusted with the responsibility of "strategic supervision" and fulfilling statutory obligations. At present, the board comprises five executive directors and eight non-executive directors.
The board discharges its responsibilities related to senior-level nominations, remuneration, legal and safety compliance on the recommendations of specific sub-committees. With the exception of the nominations committee, which is headed by the chairman, all other sub-committees are chaired by non-executive directors.
The company's strategic management is delegated to the corporate-management committee, comprising wholetime directors and some senior-management members. Its job is to review the progress of strategic business plans and enjoys theauthority related to deployment of resources.
The management of business divisions is vested with a divisional executive committee headed by a chief executive. The cigarettes and tobacco businesses are under Anup Singh, paper, packaging and real estate with Saurabh Misra, while SSH Rehman is in charge of hotels and related businesses.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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