YCD
Business Executive

Yogesh Chander Deveshwar

Born 4 February 1947 · Madhya Pradesh — Died 11 May 2019

Led ITC Limited as chairman and CEO for over two decades, transforming it into a diversified conglomerate.

Yogesh Chander Deveshwar was an Indian businessman. He was the chairman of ITC Limited. He was the longest-serving CEO of any Indian company.

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A detail that
surprised us

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Yogesh Chander Deveshwar was the longest-serving CEO in Indian corporate history, leading ITC for over two decades from 1996 until shortly before his death in 2019.

The Story

1
In 1968, Yogesh Chander Deveshwar joined ITC Limited straight after earning his mechanical engineering degree from IIT Delhi, stepping into a company then known primarily for tobacco products.
2
🌟 By 1996, Deveshwar became the CEO and chairman of ITC, steering the firm from a tobacco-centric business to a diversified empire spanning FMCG, hotels, paperboards, and agri-business.
3Under his leadership, ITC's revenue share from tobacco dropped from nearly 75% to 41% over 16 years, reflecting a strategic shift that transformed the company into one where 88% of employees worked outside tobacco.
4In 2011, he earned a monthly salary of 26 lakh rupees, nearly triple that of his closest company peer, marking him as India's highest-paid CEO at the time.

🏅 Awards & Honours

—
Padma Bhushan

🔍 One thing most people don't know

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In 1991, Deveshwar took a leave from ITC to serve as Chairman and Managing Director of Air India, overseeing the airline during a challenging phase before returning to ITC in 1994.

📸 Through the Years

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🗓️ A Life in Moments

🕊️
Birth
Born in Lahore, British India
Yogesh Chander Deveshwar was born on 4 February 1947 in Lahore, which was then part of British India.
1947
📚
Education
Graduated from IIT Delhi
He completed his bachelor's degree in mechanical engineering from the Indian Institute of Technology Delhi in 1968.
1968
⚡
Career
Joined ITC Limited
Deveshwar began his career by joining ITC Limited in 1968, starting at a time when the company was primarily a tobacco business.
1968
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Career
Led Air India as Chairman and MD
On a lien from ITC, he was appointed Chairman and Managing Director of Air India in 1991, managing the national airline during a critical period.
1991
⚡
Career
Became CEO and Chairman of ITC
Deveshwar took over as CEO and chairman of ITC Limited in January 1996, starting a tenure that would last over two decades.
1996
🌟
Other
ITC publishes first sustainability report
Under Deveshwar's leadership, ITC became the first Indian company to release a sustainability report aligned with Global Reporting Initiative standards.
2004
🏅
Award
Received Padma Bhushan
Deveshwar was awarded the Padma Bhushan, India's third-highest civilian award, recognizing his contributions to industry.
2011
🏅
Award
Named Best CEO in India by Harvard Business Review
Harvard Business Review ranked him as the best performing CEO in India and seventh worldwide in 2013.
2013
🕊️
Death
Passed away
Yogesh Chander Deveshwar died on 11 May 2019 after battling cancer for several years.
2019
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🗝️Discoveries

Swipe to uncover hidden stories
01 / 04
🏆ACHIEVEMENT

ITC Hotels, under Deveshwar’s vision, expanded from a modest 3-hotel portfolio to a chain of 100 hotels including heritage palaces, transforming Indian luxury hospitality.

02 / 04
🏆ACHIEVEMENT

In 2004, ITC became the first Indian company to publish a sustainability report aligned with the Global Reporting Initiative, pioneering corporate environmental accountability in India.

03 / 04
👤PERSONAL

Despite his corporate stature, Deveshwar underwent advanced hoteliering training at Cornell University, USA, highlighting his hands-on approach to growing ITC's hospitality business.

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🎙️ Speeches & Recordings

These recordings preserve the legacy of Bharat's icons
WBCSD Council Meeting 2016 - Mr Yogesh Chander Deveshwar, Chairman, ITC Limited
More from this archive
WBCSD Council Meeting 2016 - Mr Yogesh Chander Deveshwar, Chairman, ITC Limited
01
WBCSD Council Meeting 2016 - Mr Yogesh Chander Deveshwar, Chairman, ITC Limited
India Needs To Encourage Food Processing Industry: YC Deveshwar
02
India Needs To Encourage Food Processing Industry: YC Deveshwar
India Today Conclave: Q&A With Y C Deveshwar & Sandep Pandey
03
India Today Conclave: Q&A With Y C Deveshwar & Sandep Pandey
ITC's To Foray Into New Sectors: Chairman Deveshwar
04
ITC's To Foray Into New Sectors: Chairman Deveshwar
India Today Conclave: Session With Y C Deveshwar & Sandep Pandey
05
India Today Conclave: Session With Y C Deveshwar & Sandep Pandey
Y C Deveshwar on ITC's Triple Bottom Line Performance - 1
06
Y C Deveshwar on ITC's Triple Bottom Line Performance - 1
In Depth - Yogi Deveshwar
07
In Depth - Yogi Deveshwar
Yogesh Chander Deveshwar
08
Yogesh Chander Deveshwar
CNBC-TV18 Exclusive:  YC Deveshwar To Pass On The Baton. Longest-Serving Indian CEO Set To Leave.
09
CNBC-TV18 Exclusive: YC Deveshwar To Pass On The Baton. Longest-Serving Indian CEO Set To Leave.
Shaili Chopra, ET Now interviews ITC's YC Deveshwar on Tee Time.VOB_3.flv
10
Shaili Chopra, ET Now interviews ITC's YC Deveshwar on Tee Time.VOB_3.flv

🌱 What changed because of them

Deveshwar fundamentally reshaped ITC, steering it away from dependence on tobacco to a multi-sector powerhouse with substantial FMCG, hospitality, and agri-business interests. His leadership set new standards for corporate governance and sustainability in Indian industry, inspiring other firms to diversify and adopt responsible business practices. His tenure also elevated the stature of Indian CEOs on the global stage, showcasing Indian corporate leadership at an international level.

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