ITC Chairman Y C Deveshwar Passes Away

NOTED INDUSTRY leader and ITC Chairman Y C Deveshwar passed away Saturday morning after a brief illness, according to company sources.

Deveshwar (72), who stepped down from executive role in 2017 but remained as a chairman in non-executive capacity, passed away this morning at a private hospital in Gurugram.

Also, he had served as the Chairman of the Society and Board of Governors of the Indian Institute of Management, Kolkata and as a Director on the Central Board of the Reserve Bank of India. He also headed Air India as its Chairman and Managing Director between 1991 and 1994.

Deveshwar endeavoured to ensure that ITC remains an Indian company despite its British roots.

He also transformed the company from just a tobacco brand to lifestyle, FMCG, stationery, hospitality, agriculture and information technology.

Deveshwar held many illustrious positions in his career. For his distinguished services, he was awarded the Padma Bhushan in 2011 by the Government of India.

(Agencies)