The company said Iger will remain on the post till 31 December 2026.
Aarthi Ramakrishnan has over 20 years of experience in global banks and asset platforms.
Puri, who joined ITC in 1986, was appointed as the chairman effective 13 May 2019.
He has a career spanning two decades.
Anuradha Bajpai and Ajay Candade were appointed as independent directors.