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Y C Deveshwar, ITC's longest serving chief, dies

NEW DELHI: Y C Deveshwar, ITC's longest serving chairman, passed away on Saturday on the age of 72.

He was appointed as a director at the board of the company on April 11, 1984 and was the executive govt and chairman of the board on January 1, 1996, consistent with the ITC website.

Deveshwar joined ITC in 1968 and is an alumnus of the Indian Institute of Technology, Delhi, and Harvard Business School. Between 1991 and 1994, he led Air India as chairman and managing director.

Deveshwar has served as a director at the central board of the Reserve Bank of India (RBI) and as a member of the National Foundation for Corporate Governance.

In 2011, Deveshwar was conferred the Padma Bhushan, probably the most best possible civilian awards within the nation, through the government.

Deveshwar stepped down as leader govt of ITC in 2017 and was serving as non-executive chairman. In June 2018, the FMCG giant decided to extend tenure of Deveshwar through another two years from 2020 to 2022 so that he may proceed to mentor the senior management.

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