YC Deveshwar, after serving over two decades as the executive chairman and CEO at ITC, passed away on Saturday at 72. The news was confirmed by ITC.
He was born on February 4, 1947 in Lahore and did his studies at IIT, Delhi followed by a management course at Harvard University.
Deveshwar joined ITC in 1968, according to the company’s website. He was the architect of ITC’s bold transformation from a tobacco company and also battled British American Tobacco to ensure ITC remains an Indian company.
Between 1991 and 1994, Deveshwar led state-owned carrier Air India as the chairman and managing director.
He was also a director on the central board of the Reserve Bank of India.