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Company Name : ITC Limited

Thursday, May 25, 2017 3:24PM IST (9:54AM GMT)

ITC Limited Wins the Prestigious Porter Prize 2017 in Two Categories - Excellence in Corporate Governance and Integration and Creating Shared Value

Award presented by Prof. Michael E. Porter for ITC's outstanding Competitive Strategy

New Delhi, Delhi, India

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  • ITCITC - Porter Award
ITC Limited has won the prestigious Porter Prize 2017 award for ‘Excellence in Corporate Governance and Integration’ and for its exemplary contribution in ‘Creating Shared Value’.

The eponymous award was presented by Prof. Michael E. Porter himself, the Harvard Business School Professor and a stalwart on competitive business strategies, to Mr. Sanjiv Puri, the CEO and Executive Director of ITC Ltd at a ceremony in Mumbai. The Award for Excellence in Corporate Governance and Integration was in recognition of ITC’s outstanding performance driven through excellence in Corporate Governance that is reflected in synergies between different aspects of business, superior performance and control mechanisms. The Award for "Creating Shared Value" recognised ITC's outstanding performance in the industry and the high impact that the Company has created by reconceiving products and markets, redefining productivity in the value chains, enabling community development and in turn creating societal and economic progress.

Organised by the Institute for Competitiveness, the coveted Porter Prize recognises Corporates for their exemplary acumen in Competitive Strategies. Prof. Porter was in India after 14 years to give away the Awards.

On receiving the coveted Porter prize, Mr. Sanjiv Puri, CEO and Executive Director of ITC Ltd said, “We are indeed honoured that ITC was chosen for the prestigious Porter prize in the two categories of "Excellence in Corporate Governance and Integration” and "Creating Shared Value”. This reinforces ITC’s strategy of creating larger societal value to meet national priorities together with delivering remarkable shareholder returns."

Prof. Porter congratulated all the winners at the ceremony who are front-runners in their own fields and also mentioned that he was proud of what they were doing to move to the next level in many different ways.

A leading multi-business conglomerate in India with a market-cap of over $ 50 billion, ITC Ltd, is the country’s leading FMCG marketer, the market leader in the Indian Paperboard and Packaging industry, a globally acknowledged pioneer in farmer empowerment through its wide-reaching Agri Business, the second largest Hotel Chain in India and a trailblazer in 'green hoteliering'. ITC’s wholly-owned subsidiary, ITC Infotech, is a player of promise in the Information Technology segment.

ITC is also a global exemplar in sustainability. It is the only enterprise in the world, of comparable dimensions, to be carbon-positive (12 years in a row), water-positive (15 consecutive years), and solid waste recycling positive (for the last 10 years). More than 48% of the total energy requirements of the Company is met from renewable sources, a testimony to its commitment to a low carbon growth path. All ITC’s premium luxury hotels are LEED® (Leadership in Energy and Environmental Design) Platinum certified making it the "greenest luxury hotel chain" in the world.

The Company’s businesses generate sustainable livelihoods for over 6 million people, many of whom represent the poorest in Rural India. The pioneering farmer empowerment initiative, ITC e-Choupal, is today the world's largest rural digital infrastructure and is a case study at the Harvard Business School besides receiving several global awards including the inaugural World Business Award instituted by the United Nations Development program (UNDP), International Chamber of Commerce (ICC) and the HRH Prince of Wales International Business Leader's Forum.

ITC was also conferred the World Business and Development Award 2012 at the historic Rio+20 United Nations Summit for its large scale Social and Farm Forestry Programme.

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Nandini Basu, General Manager – Corporate Communications, ITC Limited

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News Summary

ITC Limited has won the prestigious Porter Prize 2017 award for 'Excellence in Corporate Governance and Integration' and for its exemplary contribution in 'Creating Shared Value'.