ITC Limited has successfully concluded its postal ballot process, with shareholders approving two significant board appointments that will shape the company's leadership structure. The diversified conglomerate announced the results on December 16, 2025, following the completion of e-voting that ran from November 16 to December 15, 2025.

Approved Appointments

Amitabh Kant Appointed as Independent Director

Shareholders have approved the appointment of Mr. Amitabh Kant as an Independent Director for a five-year term effective from January 1, 2026. The 69-year-old retired IAS officer brings over four decades of administrative experience to ITC's board.

Kant has held several prestigious positions including Secretary to the Department of Industrial Policy and Promotion, CEO of Delhi Mumbai Industrial Corridor Development Corporation, and Tourism Secretary to the Government of Kerala. He has authored books including "Made in India," "Incredible India 2.0," and "Branding India - An Incredible Story."

Hemant Malik Re-appointed as Wholetime Director

Shareholders have also approved the re-appointment of Mr. Hemant Malik as a Wholetime Director for a two-year term effective from August 12, 2026. The 59-year-old executive currently serves as Divisional Chief Executive of the Foods Business Division.

Malik has extensive experience across multiple ITC businesses including Tobacco & Foods and the Trade Marketing & Distribution (TM&D) Vertical. He was instrumental in launching and developing key food brands including Aashirvaad, Sunfeast, Bingo, YiPPee, and Kitchens of India.

Remuneration Structure

The approved remuneration packages reflect the strategic importance of these appointments:

Strategic Implications

These appointments represent ITC's commitment to combining seasoned governance expertise with operational excellence. Kant's extensive policy-making background and economic reform experience are expected to provide valuable strategic insights, while Malik's re-appointment ensures continuity in ITC's successful FMCG operations.

The company has confirmed that both directors have not been debarred from holding directorship positions by SEBI or any other regulatory authority, ensuring compliance with corporate governance standards.

ITC executed a significant block trade on the National Stock Exchange (NSE) worth ₹51.27 crores, marking substantial institutional activity in the tobacco and FMCG major's stock.

Block Trade Details

The transaction involved approximately 1,271,369 shares executed at ₹403.30 per share on the NSE platform. Block trades represent large-volume transactions typically conducted by institutional investors, mutual funds, or other significant market participants.

Market Significance

Block trades often indicate portfolio restructuring activities by institutional investors or large-scale transactions between major market participants. Such transactions are executed outside the regular market to minimize price impact and ensure efficient execution of large volumes.

The execution price of ₹403.30 per share represents the agreed-upon rate between the transacting parties for this substantial volume of ITC shares. These transactions provide insights into institutional sentiment and trading patterns in the stock.

About the Transaction

The ₹51.27 crore transaction reflects the scale of institutional participation in ITC's stock. Block deals are typically pre-negotiated transactions that allow for the transfer of large quantities of shares without affecting the stock's market price during regular trading hours.

Such transactions are common among institutional investors looking to adjust their portfolio positions efficiently while maintaining market stability.