Yogesh Chander Deveshwar
|Executive Chairman and CEO of ITC Limited|
1 January 1996 – 4 February 2017
|Succeeded by||Sanjiv Puri|
|Chairman and MD of Air India|
1991 - 1994
|Born||4 February 1947|
Lahore, British India
|Died||11 May 2019 72)(aged|
|Alma mater||IIT Delhi|
Yogesh Chander Deveshwar (4 February 1947 – 11 May 2019) was an Indian businessman. He was the chairman of ITC Limited. He was the longest-serving CEO of any Indian company.
ITC Limited is an Indian multinational conglomerate company headquartered in Kolkata, West Bengal.
Yogesh Chander Deveshwar was born on 4 February 1947 in Lahore, British India.He received a bachelor's degree in mechanical engineering from the Indian Institute of Technology, Delhi in 1968. He later attended the six-week Advanced Management Program at Harvard Business School.
Lahore is the capital of the Pakistani province of Punjab. Lahore is the country's second-most populous city after Karachi, and is one of Pakistan's wealthiest cities with an estimated GDP of $58.14 billion (PPP) as of 2015. Lahore is the largest city, and historic cultural centre of the Punjab region, and one of Pakistan's most socially liberal, progressive, and cosmopolitan cities.
Mechanical engineering is the discipline that applies engineering, physics, engineering mathematics, and materials science principles to design, analyze, manufacture, and maintain mechanical systems. It is one of the oldest and broadest of the engineering disciplines.
Harvard Business School (HBS) is the graduate business school of Harvard University in Boston, Massachusetts. The school offers a large full-time MBA program, doctoral programs, HBS Online and many executive education programs. It owns Harvard Business Publishing, which publishes business books, leadership articles, online management tools for corporate learning, case studies and the monthly Harvard Business Review. It is home to the Baker Library/Bloomberg Center.
Deveshwar joined ITC Limited in 1968. He was appointed as a main board director in 1984 and became the CEO and chairman in January 1996.Deveshwar was due to step down as head of ITC in 2010.
He was a director on the central board of the Reserve Bank of India, a member of the National Foundation for Corporate Governance, and a member of the governing body of the National Council of Applied Economic Research.[ citation needed ]
The Reserve Bank of India (RBI) is India's central banking institution, which controls the issuance and supply of the Indian rupee. Until the Monetary Policy Committee was established in 2016, it also controlled monetary policy in India. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949.
Deveshwar was India's longest-serving CEO at the time of his death,and earned nearly triple the second-highest salary in his company. In 2011, it was reported that his salary was 26 lakh (2.6 million) rupees per month. In 2013, he was listed as the best performing CEO in India by Harvard Business Review and seventh in the world. In 2011, Deveshwar received the Padma Bhushan, India's third-highest civilian award.
A lakh (; abbreviated L; sometimes written Lac or Lacs; Devanāgarī: लाख) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation: 105). In the Indian convention of digit grouping, it is written as 1,00,000. For example, in India 150,000 rupees becomes 1.5 lakh rupees, written as ₹1,50,000 or INR 1,50,000.
Harvard Business Review (HBR) is a general management magazine published by Harvard Business Publishing, a wholly owned subsidiary of Harvard University. HBR is published six times a year and is headquartered in Brighton, Massachusetts.
The Padma Bhushan is the third-highest civilian award in the Republic of India, preceded by the Bharat Ratna and the Padma Vibhushan and followed by the Padma Shri. Instituted on 2 January 1954, the award is given for "distinguished service of a high order...without distinction of race, occupation, position or sex." The award criteria include "service in any field including service rendered by Government servants" including doctors and scientists, but exclude those working with the public sector undertakings. As of 2019, the award has been bestowed on 1254 individuals, including twenty-one posthumous and ninety-six non-citizen recipients.
Deveshwar died on 11 May 2019, and although the immediate cause of death was not announced, it was known that he had been diagnosed with cancer a few years before.
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