ITC seeks shareholder approval for Navin Agarwal's appointment as Director via postal ballot
ITC Limited is seeking shareholder approval for the appointment of Mr. Navin Agarwal as a Director via postal ballot. The remote e-voting period is from February 17 to March 18, 2026. Mr. Agarwal's appointment is effective April 1, 2026, with an annual commission between ₹1 crore and ₹1.3 crore.
The appointment of a new director, especially one representing a significant shareholder like SUUTI and with a background in public finance and asset management, can have a medium-term impact on the company's strategic direction and governance.
The announcement is a routine procedural step for appointing a director, with no immediate financial implications or significant positive/negative business developments. It is a standard corporate governance action.
ITC Limited has initiated a postal ballot process, seeking shareholder approval for the appointment of Mr. Navin Agarwal (DIN: 10684167) as a Director of the Company. This follows a Board of Directors' meeting held on 29th January, 2026, where his appointment was recommended by the Nomination & Compensation Committee.
Mr. Agarwal, aged 55, will represent the Specified Undertaking of the Unit Trust of India (SUUTI). He currently serves as the Joint Secretary in the Department of Investment and Public Asset Management, Ministry of Finance, Government of India, overseeing disinvestment and capital management of Central Public Sector Enterprises. He also holds positions within SUUTI.
His educational background includes a Bachelors in Economics from Delhi University, a Masters in Climate Change, Management & Finance from Imperial Business School, London, and a Master of Public Administration in Finance and Fiscal Policy from Cornell University, USA. With nearly three decades of experience in public finance, capital markets, and public sector governance, Mr. Agarwal has been involved in the establishment of several key financial institutions. He is currently a Director of National Land Monetization Corporation Limited.
The postal ballot process, conducted through remote e-voting, commenced on Tuesday, 17th February, 2026, at 9:00 a.m. (IST) and will conclude on Wednesday, 18th March, 2026, at 5:00 p.m. (IST). The results of the remote e-voting are scheduled to be declared on Thursday, 19th March, 2026, at 2:30 p.m. (IST). Mr. Agarwal's appointment as a Director is proposed to be effective from 1st April, 2026, for a period of three years, subject to board determination and applicable statutes. He will be entitled to a commission ranging between ₹1,00,00,000/- and ₹1,30,00,000/- per annum, similar to other Non-Executive Directors. Mr. Agarwal does not hold any shares in the Company and is not related to any of its Directors or Key Managerial Personnel.
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