ITC chairman YC Deveshwar no more

Deveshwar was known for being India’s longest-serving corporate chiefs

by exchange4media Staff
Published - May 11, 2019 1:27 PM Updated: May 11, 2019 1:27 PM

ITC chairman YC Deveshwar passed away on Saturday morning, as per media reports. He was 72. 

He was known for being India’s longest-serving corporate chiefs. Deveshwar joined the ITC group in 1968 and was named the Executive Chairman in 1996. 

He is credited to have steered the FMCG major out of troubled times when the company faced resistance from key shareholders to its diversification efforts. 

In 2017, Deveshwar moved to the role of Non-Executive Chairman. 

He has also been known for championing the cause of sustainable and inclusive growth and the role of businesses in creating larger societal value. 
Deveshwar was conferred the Padma Bhushan in 2011. He is survived by his wife and son.

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