ITC Chairman passed away

ITC Chairman passed away
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:
  • 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 2018YC 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:

https://www.aninews.in/news/business/itc-chairman-yogi-deveshwar-passes-away-at-72-condolences-pour-in20190511153420/

https://www.business-standard.com/article/companies/yc-deveshwar-itc-s-longest-serving-corporate-chief-passed-away-119051100173_1.html

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