Y C Deveshwar, chairman of ITC group, passed away on Saturday. Deveshwar took over as chairman of ITC group in January 1996 when the company was going through its worst crisis. Within four years of Deveshwar’s becoming chairman, ITC was again trying to enter new business segments. Deveshwar says about ITC’s ability to fly soloITC’s market capitalization at the end of 2015-16 was $45 billion, almost 50 times its market value in 1996. “The way he has built the consumer goods business is unbelievable," says Sanjiv Goenka, chairman of the RP-Sanjiv Goenka group.

Source: Mint May 11, 2019 05:25 UTC