Diversified conglomerate ITC Ltd is likely to appoint Sanjiv Puri as its new Chief Executive Officer (CEO) following a split up of the role of the Executive Chairman.

YC Deveshwar is currently the Executive Chairman and CEO of the company.

A notification to the bourses, late on Tuesday evening, by the company, said it has sought the board approval for splitting up the role of the Executive Chairman between Chairman and Chief Executive Officer.

It has also sought permission from the board for the appointment of Sanjiv Puri as the CEO from February 5, making clear his elevation as the heir apparent to Deveshwar. Puri is currently the COO of the company.

Deveshwar after an over two decade stint at the helm will step down from his executive role on February 4. He will be the non-executive Chairman.