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. Established in 1910 as the 'Imperial Tobacco Company of India Limited', the company was renamed as the 'India Tobacco Company Limited' in 1970 and later to 'I.T.C. Limited' in 1974. The dots in the name were removed in September 2001 for the company to be renamed as 'ITC Limited' where 'ITC' would no longer be an initialism. The company completed 100 years in 2010 and as of 2012–13, had an annual turnover of US$8.31 billion and a market capitalization of US$52 billion. It employs over 30,000 people at more than 60 locations across India and is part of Forbes 2000 list.
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 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.
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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 bank, which controls the issuance and supply of the Indian rupee. RBI is the regulator of entire Banking in India. RBI plays an important part in the Development Strategy of the Government of India.
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.
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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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