ITC Chairman YC Deveshwar died early on May 11 after prolonged illness, CNBC TV 18†reported. He is survived by his wife and son. He was 72.
Born in Lahore on February 4, 1947, Deveshwar is an†alumnus of the Indian Institute of Technology (IIT) Delhi and Harvard Business School.†
He†joined ITC in 1968.
He was appointed as a director on the board of the company on April 11, 1984, and became the chief executive and chairman of the board on January 1, 1996.
He was one of India's longest-serving corporate chiefs with over two decades at the helm as the executive chairman and chief executive officer at ITC until February 4, 2017.
After the company split the role of the executive chairman between chairman and chief executive officer on February 5, 2017, Deveshwar agreed to continue as chairman in a non-executive capacity at the request of the nomination and compensation committee and the board. He also played the role of a mentor to the†
Between 1991 and 1994, he led Air India as Chairman and Managing Director.