Yogesh Chander Deveshwar

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.

Yogesh Chander Deveshwar
Executive Chairman and CEO of ITC Limited
In office
1 January 1996 – 4 February 2017
Succeeded bySanjiv Puri
Chairman and MD of Air India
In office
1991 - 1994
Personal details
Born(1947-02-04)4 February 1947
Lahore, British India
Died11 May 2019(2019-05-11) (aged 72)
NationalityIndian
ResidenceKolkata, India
Alma materIIT Delhi
OccupationBusinessman

Early life

Yogesh Chander Deveshwar was born on 4 February 1947 in Lahore, British India.[1] He received a bachelor's degree in mechanical engineering from the Indian Institute of Technology, Delhi in 1968.[2] He later attended the six-week Advanced Management Program at Harvard Business School.[2]

Career

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.[3] Deveshwar was due to step down as head of ITC in 2010.[4]

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.

Deveshwar was India's longest-serving CEO at the time of his death,[5] and earned nearly triple the second-highest salary in his company.[6] In 2011, it was reported that his salary was 26 lakh (2.6 million) rupees per month.[7] In 2013, he was listed as the best performing CEO in India by Harvard Business Review and seventh in the world.[8][9] In 2011, Deveshwar received the Padma Bhushan, India's third-highest civilian award.[7]

Death

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 (linked to excessive cigarette smoking) a few years before.[10][11]

References
  1. "Y.C. Deveshwar thinks ITC could be a model for running India's PSUs - Business Today". intoday.in. Retrieved 14 June 2015.
  2. Nayar, Lola (24 March 2017). "Yogesh Chander Deveshwar, ITC". Outlook. Retrieved 3 March 2019.
  3. Gupta, Indrajit & Surendar, T (2010) "Remaking Indian Tobacco Co.", Forbes.com, 30 June 2010, retrieved 31 July 2011
  4. Ghosal, Sutanuka (2011) "Inhouse talent preferred for ITC heir: Yogi Deveshwar", The Economic Times, 16 June 2011, retrieved 31 July 2011
  5. Kalbag, Chaitanya (5 February 2012). "From centre-half to referee". Business Today. Retrieved 13 June 2015.
  6. Indrajit Gupta & T. Surendar (30 June 2010). "Remaking Indian Tobacco Co". Forbes. Retrieved 13 June 2015.
  7. "ITC chief Y C Deveshwar to pave way for successor by February 2017". The Economic Times. The Times Group. 14 June 2011. Retrieved 13 June 2015.
  8. Hansen, Morten T.; Herminia Ibarra; Urs Peyer (30 January 2013). "The Best-Performing CEOs in the World". Harvard Business Review. Harvard Business Publishing. ISSN 0017-8012. OCLC 1751795. Retrieved 6 June 2015.
  9. "Meet YC Deveshwar: The 7th Best Performing CEO in the World". Yahoo Finance India. Yahoo. 22 January 2015. Retrieved 6 June 2015.
  10. "ITC chairman YC Deveshwar passes away". The Economic Times. 11 May 2019. Retrieved 11 May 2019.
  11. ""Lost our husbands to tobacco let's fight it together, Mrs Deveshwar"". Health news, Medibulletin. 13 May 2019. Retrieved 15 May 2019.
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