In their latest press release, the company's new management stated a plan for expansion of its operations into the global software market via a series of acquisitions in Asia and Latin America.
A. the company's new management stated a plan for expansion of its operations
B. the new company's management stated that they planned on expanding its operations
C. the company's new managers stated their plan to expand its operations
D. the new company managers stated their plan for its operations, expanding
E. the company's new management stated that they planned to expand its operations
In the answer choice D, I find that "its" does not have any noun or possessive noun, but the explanation does not mention the seeming error. Is the usage of its in this case right?