ITC: has 4 wholetime directors ( avg age 60.75 yrs) and 10 Non Executive directors ( avg age 67.6 years). Of the 4 Whole time directors, Rajiv Tandon is Fiannce and Nakul Anand hotel. Puri and Sumant Bhargava both have manufacturing background

Of the 10 Non Ex-Dirs, There are 2 foreign service Nirupama Rao and Meera Shahnkar ( potential of meaningful contribution - PMC- Zero), there are 2 Insurance companies Nominees(PMC Zero) and there are 2 retired IAS with no relevant background ( PMC Zero)

There is one BAT nominee that is cigarettes so practically PMC zero, one EX LIC chairman. We have now accounted for 8 out of 10 with Zero PMC

Finally we have one old timer ITC retired guy with HR background and one International Banker with experience in capital raising ( does ITC need that?) and International Banking ( perhaps ITC wants to get into International Banking)

that Ladies and Gentlemen is the story of top of ITC. With its avowed intention of expanding FMCG which is all about marketing, there is not one single person with marketing or FMCG background. There are only people to help manage LIC - the largest shareholer and GOI

the biggest stakeholder. These people help the current management stay in the seat with zero accountability. Next sometime this weekend I will look at the return on networth of the Hotel, Agri and FMCG biz but you get the drift- nothing signicant is going to happen here

a Sunrise Masala- 500 Cr turnover, a BNatural perhaps 100-200 cr turnover and few minor things thrown here and there which is good for PR but not for growth