In top-level rejig, ITC appoints hotel business COO Dipak Haksar as unit’s CEO

KOLKATA: ITC has made top-level management changes in its hotel business as part of the ongoing succession planning process. The conglomerate, which runs the country's second-largest hotel chain, has appointed hotel business chief operating officer Dipak Haksar as the unit's chief executive. Ranvir Bhandari, the division's vice-president, operations, will replace Haksar. With this, ITC executive director Nakul Anand (59), who was CEO of the hotel business till recently, will continue as director in a supervisory role. Haksar (58) and Bhandari (55) will be responsible for expansion and management of both ITC and WelcomHotels brands and will report to Anand.

When contacted, an ITC spokesperson confirmed the changes. "Nakul Anand, executive director of ITC, oversees the hotels, travel and tourism businesses as well as lifestyle retailing. As in the other businesses of ITC, the executive management of a division is entrusted to the divisional management committee, headed by the divisional CEO," he said.

ITC has also elevated Arun Pathak (56), vice president, finance, at the hotel business as MD of its upcoming project in Colombo, its first overseas hotel project. Analysts said the elevations were in line with other top management changes that ITC chairman YC Deveshwar has been undertaking to groom the next generation for senior roles ahead of his retirement in two years.

"More such changes are expected across businesses at ITC due to succession planning. Both Bhandari and Pathak are relatively younger and likely to be groomed for bigger roles since Anand and Haksar will soon reach their superannuation," said an analyst tracking the company, requesting anonymity. ITC operates more than 100 properties across the country. It is on an expansion spree with plans to invest over Rs 9,000 crore to build new hotels in Kolkata, Hyderabad, Ahmedabad, and Amritsar besides Colombo.

In the last few months, Deveshwar has elevated several executives to senior roles. Early this month, Sanjiv Puri was appointed director for the FMCG business, including cigarettes, and will also take additional responsibility too.

ITC Limited