Yogesh Chander Deveshwar

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Yogesh Chander Deveshwar
Executive Chairman and CEO of ITC Limited
In office
1 January 1996 – 4 February 2017
Succeeded by Sanjiv Puri
Chairman and MD of Air India
In office
1991 - 1994
Personal details
Born (1947-02-04)4 February 1947
Lahore, British India
Died 11 May 2019(2019-05-11) (aged 72)
Nationality Indian
Residence Kolkata, India
Alma mater IIT Delhi
Occupation Businessman

Yogesh Chander Deveshwar (4 February 1947 – 11 May 2019) was an Indian businessman. He was the chairman of ITC Limited. He was the longest-serving CEO of any Indian company.

Early life

Yogesh Chander Deveshwar was born on 4 February 1947 in Lahore, British India.[1] He received a bachelor's degree in mechanical engineering from the Indian Institute of Technology, Delhi in 1968.[2] He later attended the six-week Advanced Management Program at Harvard Business School.[2]


Deveshwar joined ITC Limited in 1968. He was appointed as a main board director in 1984 and became the CEO and chairman in January 1996.[3] Deveshwar was due to step down as head of ITC in 2010.[4]

He was a director on the central board of the Reserve Bank of India, a member of the National Foundation for Corporate Governance, and a member of the governing body of the National Council of Applied Economic Research.[citation needed]

Deveshwar was India's longest-serving CEO at the time of his death,[5] and earned nearly triple the second-highest salary in his company.[6] In 2011, it was reported that his salary was 26 lakh (2.6 million) rupees per month.[7] In 2013, he was listed as the best performing CEO in India by Harvard Business Review and seventh in the world.[8][9] In 2011, Deveshwar received the Padma Bhushan, India's third-highest civilian award.[7]


Deveshwar died on 11 May 2019, and although the immediate cause of death was not announced, it was known that he had been diagnosed with cancer a few years before.[10][11]


  1. ^ "Y.C. Deveshwar thinks ITC could be a model for running India's PSUs - Business Today". intoday.in. Retrieved 14 June 2015.
  2. ^ a b Nayar, Lola (24 March 2017). "Yogesh Chander Deveshwar, ITC". Outlook. Retrieved 3 March 2019.
  3. ^ Gupta, Indrajit & Surendar, T (2010) "Remaking Indian Tobacco Co.", Forbes.com, 30 June 2010, retrieved 31 July 2011
  4. ^ Ghosal, Sutanuka (2011) "Inhouse talent preferred for ITC heir: Yogi Deveshwar", The Economic Times, 16 June 2011, retrieved 31 July 2011
  5. ^ Kalbag, Chaitanya (5 February 2012). "From centre-half to referee". Business Today. Retrieved 13 June 2015.
  6. ^ Indrajit Gupta & T. Surendar (30 June 2010). "Remaking Indian Tobacco Co". Forbes. Retrieved 13 June 2015.
  7. ^ a b "ITC chief Y C Deveshwar to pave way for successor by February 2017". The Economic Times. The Times Group. 14 June 2011. Retrieved 13 June 2015.
  8. ^ Hansen, Morten T.; Herminia Ibarra; Urs Peyer (30 January 2013). "The Best-Performing CEOs in the World". Harvard Business Review. Harvard Business Publishing. ISSN 0017-8012. OCLC 1751795. Retrieved 6 June 2015.
  9. ^ "Meet YC Deveshwar: The 7th Best Performing CEO in the World". Yahoo Finance India. Yahoo. 22 January 2015. Retrieved 6 June 2015.
  10. ^ "ITC chairman YC Deveshwar passes away". The Economic Times. 11 May 2019. Retrieved 11 May 2019.
  11. ^ ""Lost our husbands to tobacco let's fight it together, Mrs Deveshwar"". Health news, Medibulletin. 13 May 2019. Retrieved 15 May 2019.

External links

  • How Yogi Deveshwar changed ITC
  • Y C Deveshwar named `Business Person of the Year' by UK Government
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