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ITC Chairman Y C Deveshwar Passes Away At 72 After Battling Prolonged Illness
ITC Chairman Y C Deveshwar (Pic via official ITC website)
Chairman of ITC limited, Yogesh Chander Deveshwar, who served as the head of one of India’s best known business conglomerates for more than two decades, passed away today (11 May 2019) at the age of 72, reports CNBC TV18.
He had been suffering from a prolonged illness in recent times, and had stepped down as CEO of ITC in 2017, remaining on board as the company’s non-executive chairman. He has behind his wife and a son.
Deveshwar’s birth took place on 4 February 1947 in Lahore. He went on to complete his studies at IIT, Delhi, moving on to go to Harvard University for a management course. His ITC career began in 1968, and he was instrumental in steering the company’s transformation from being just a tobacco brand; he also helped make sure that ITC remained in Indian hands, and did not become part of British American Tobacco.
From 1991 to 1994, he also served as the chairman and managing director of the national carrier Air India. He had also been one of the director’s on the Reserve Bank of India’s board.
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