ITC Limited has announced the appointment of Navin Agarwal as a Non-Executive Director, effective 1 April 2026, for a three-year term and liable to retire by rotation. The appointment comes after a postal-ballot approval by the company’s members and marks a strategic addition to ITC’s board, representing the Specified Undertaking of the Unit Trust of India (SUUTI).
Navin Agarwal brings three decades of public-finance and capital-markets experience to ITC’s leadership table. He holds a BA in Economics from Delhi University, an MSc in Climate Change, Management & Finance from Imperial College London, and an MPA in Finance and Fiscal Policy from Cornell University. At present, he serves as Joint Secretary in the Department of Investment and Public Asset Management (DIPAM), under the Ministry of Finance, Government of India, overseeing disinvestment and capital management of Central Public Sector Enterprises, and he is Administrator and a Member of the Body of Persons of SUUTI. His career also includes senior roles in the civil services, including Director in the Department of Economic Affairs and Executive Director on the Railway Board. He is currently a Director of the National Land Monetization Corporation Limited.
The move signals ITC’s intent to bolster its board with governance and asset-management expertise drawn from public finance. Agarwal’s background in disinvestment, capital allocation, and public asset management could inform strategic capital decisions and enhance the company’s engagement with diverse asset-management opportunities. As ITC continues to navigate its multi-vertical footprint spanning FMCG, paperboards & packaging, agri-business and IT, the addition of a seasoned public-sector finance professional to the board underscores a broader strategy to integrate robust governance with long-term value creation.