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Corporate czar Yogi Deveshwar passes away at 72


He is survived by his wife and son.

Chief Minister posted the news on her official handle.

"Saddened at the passing away of Y C He was a giant in the corporate world. I have many memories of him as a of industry. Condolences to his family, his colleagues and his admirers," she said.

In 2011, Deveshwar received the Padma Bhushan, India's third-highest civilian award.

Deveshwar was one of India's longest-serving corporate chiefs with over two decades at the helm of ITC. He joined ITC in 1968 and was the of its aggressive transformation from a tobacco company to an FMCG (fast moving consumer goods)

He became of the company in 1996 and grew revenues from Rs 5,200 crore to more than Rs 51,500 crore.

Deveshwar also battled (BAT) to ensure that ITC remains an Indian company.

Born on February 4, 1947 in Lahore, Deveshwar studied at (IIT) before taking a management course at

Between 1991 and 1994, Deveshwar led government-owned as the He was also a on the of the (RBI).

In 2017, Deveshwar stepped down as the of and was serving as a Non-


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 11 2019. 11:50 IST