Noted industry leader and ITC Chairman YC Deveshwar, who transformed the cigarette major into a diversified player with interests in FMCG, hospitality, IT and other sectors, passed away Saturday morning after a brief illness. Deveshwar (72), who stepped down from executive role as chairman and CEO in 2017 but remained as a non-executive chairman, breathed his last at a private hospital in Gurugram. “We deeply mourn the passing away of Y C Deveshwar, Chairman ITC,” ITC Managing Director Sanjiv Puri said in a statement. Deveshwar joined ITC in 1968 and was appointed as a director on ITC’s board on April 11, 1984. An alumnus of IIT Delhi and Harvard Business School, Deveshwar had also led Air India as chairman and managing director between 1991 and 1994.

Source: Hindustan Times May 11, 2019 06:56 UTC