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Last Updated : May 11, 2019 05:11 PM IST | Source: Moneycontrol.com

ITC Chairman YC Deveshwar dies at 72

Born in Lahore on February 4, 1947, Deveshwar is an alumnus of the Indian Institute of Technology (IIT) Delhi and Harvard Business School.

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ITC Chairman YC Deveshwar died early on May 11 after prolonged illness. He is survived by his wife and two children. He was 72.

"We deeply mourn the passing away of Mr YC Deveshwar, Chairman ITC. In this hour of profound grief and sorrow, we recall with respect and pride the legendary stewardship he provided to   ITC over two decades as its Chairman," said Sanjiv Puri, MD, ITC Ltd in a statement issued by the company.

Born in Lahore on February 4, 1947, Deveshwar is an alumnus of the Indian Institute of Technology (IIT) Delhi and Harvard Business School. He joined ITC in 1968.

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He was appointed as a director on the board of the company on April 11, 1984, and became the chief executive and chairman of the board on January 1, 1996.

He was one of India's longest-serving corporate chiefs with over two decades at the helm as the executive chairman and chief executive officer at ITC until February 4, 2017.

After the company split the role of the executive chairman between chairman and chief executive officer on February 5, 2017, Deveshwar agreed to continue as chairman in a non-executive capacity at the request of the nomination and compensation committee and the board. He also played the role of a mentor to the executive management.

Between 1991 and 1994, he led Air India as Chairman and Managing Director.

 

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First Published on May 11, 2019 11:12 am
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