Question: What was the name of the Chairman of ITC who passed way recently?
(a) Vinod Dey
(b) Yogi Deveshwar
(c) Pawan Munjal
(d) Girish Sahoo
Answer: (b)
Related facts:
(a) Vinod Dey
(b) Yogi Deveshwar
(c) Pawan Munjal
(d) Girish Sahoo
Answer: (b)
Related facts:
- ITC’s longest serving corporate chief and legendary corporate leader YC Deveshwar passed away at a private hospital in Gurugramon 11th May 2019 at the age of 72.
- Deveshwar (one of the longest-serving corporate chief) stepped down from executive role in 2017 but remained as a chairman in non-executive capacity, spearheaded the diversification of ITC to an FMCG company.
- To mentor the senior management, in June 2018, YC Deveshwar was made the non executive chairman of conglomerate ITC for two years from 2020 to 2022.
- He joined ITC in 1968 and became the executive chairman of the company in 1996.
- ITC was successful in warding a takeover threat from its largest shareholder BAT (British American Tobacco) and it made a successful diversification in the FMCG category under him.
- ITC’s revenues grew from Rs 5,200 Crore to over Rs 51,500 Crore and generated shareholder returns of 23.3% compounded annually during his tenure.
- He received the Padma Bhushan in the year 2011 and CII Presidential award for lifetime achievement in 2018.
- He worked as a Chairman and Managing Director of Air India between 1991 and 1994. He also became a Director on the Central Board of the RBI.
Links: