VISION - Sustain ITC as one of India's most valuable
corporations through world class performance, creating growing value
for the Indian economy and the company's stakeholders.
MISSION - To enhance the wealth generating capability of the
enterprise in a globalising environment, delivering superior and
sustainable stakeholder value.
CORE VALUES -
• Trusteeship
• Customer Focus
• Respect For People
• Excellence
• Innovation
• Ethical Corporate Citizenship
ITC defines Corporate Governance as a systemic process by which
companies are directed and controlled to enhance their wealth
generating capacity. Since large corporations employ vast quantum of
societal resources, we believe that the governance process should
ensure that these companies are managed in a manner that meets
stakeholders'aspirations and societal expectations.
THE GOVERNANCE STRUCTURE -
Corporate Governance in ITC takes place at three interlinked levels,
namely –
• Strategic supervision by the Board of Directors
• Strategic management by the Corporate Management Committee
• Executive managment by the Divisional Chief Executive assisted by
the Divisional Management Committee
CORE PRINCIPLES
ITC's Corporate Governance initiative is based on two core
principles. These are :
• Management must have the executive freedom to drive the enterprise
forward without undue restraints;
• This freedom of management should be exercised within a framework
of effective accountability.
From the above definition and core principles of Corporate
Governance emerge the cornerstones of ITC's governance philosophy,
namely trusteeship, transparency, empowerment and accountability,
control and ethical corporate citizenship. ITC believes that the
practice of each of these leads to the creation of the right
corporate culture in which the company is managed in a manner that
fulfills the purpose of Corporate Governance. |
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