NEW DELHI:
Y C Deveshwar
,
ITC's longest serving chairman, passed away on Saturday at the age of 72.
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, according to the ITC website.
Deveshwar joined ITC in 1968 and is an alumnus of the Indian Institute of Technology, Delhi, and Harvard Business School. Between 1991 and 1994, he led Air India as chairman and managing director.
Deveshwar has served as a director on the central board of the Reserve Bank of India (RBI) and as a member of the National Foundation for Corporate Governance.
In 2011, Deveshwar was conferred the Padma Bhushan, one of the highest civilian awards in the country, by the government.
Deveshwar stepped down as chief executive of ITC in 2017 and was serving as non-executive chairman. In June 2018, the FMCG giant decided to extend tenure of Deveshwar by another two years from 2020 to 2022 so that he could continue to mentor the senior management.
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