Yogesh Chander Deveshwar Chairman of the ITC group, passed away this morning. He was 72.The cause of his death is not known. He was diagnosed with cancer a few years ago. He had joined ITC in 1968, according to the cos ‘s website and was the architect of ITC’s bold transformation from a tobacco company and also battled British American Tobacco to ensure ITC remains an Indian company. ITC was successful in warding a takeover threat from its largest shareholder BAT and it made a successful diversification in the FMCG category too. In 2017, YC Deveshwar stepped down as Chief Executive of ITC, India’s largest cigarette maker and was serving as non-executive chairman.
Between 1991 and 1994, YC Deveshwar had led the state-owned carrier Air India as CMD, Had also served as director on the central board of the RBI and in 2011, YC Deveshwar received the Padma Bhushan, India’s third-highest civilian award.
IndianBureaucracy.com pays its humble tribute.