ITC's longest-serving chairman, YC Deveshwar no more
ITC chairman YC Deveshwar died on May 11 in a Gurugram hospital. He was 72, and was ITC’s longest serving corporate head. He transformed the cigarette major into a diversified player with interests in FMCG, hospitality, IT and other sectors and boosted the power of “packaging”.
Conferred the Padma Bhushan for his service to the nation, Deveshwar championed the cause for sustainable and inclusive growth and the transformative role businesses could play in creating larger societal value. This vision drove ITC to pursue business models that today supports over six million livelihoods, many amongst the weakest in society.
Sanjiv Puri, the Managing Director of ITC Ltd. said in an official statement, “We deeply mourn the passing away of 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. Inspired by patriotic fervour, manifest in his clarion call of ‘Lets Put India First’, he led ITC’s strategic thrust to create an exemplary Indian enterprise dedicated to serving national priorities.”