YC Deveshwar, chairman of the ITC group , passed away this morning. He was diagnosed with cancer a few years ago.Deveshwar joined ITC in 1968 and became the executive chairman of the company in 1996. Under his leadership, ITC was successful in warding a takeover threat from its largest shareholder BAT and it made a successful diversification in the FMCG category.Deveshwar moved to the role of non executive chairman in 2017. This vision drove ITC to pursue business models that today supports over 6 million livelihoods, many amongst the weakest in society. He also served on the national executive committees of some of India's premier trade and industry bodies.

Source: Economic Times May 11, 2019 04:52 UTC