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Political, business leaders pay tributes to ITC's Deveshwar

Press Trust of India  |  New Delhi/Kolkata 

Political and business leaders paid heartfelt tributes to ITC Y C Deveshwar, who passed away Saturday morning after a brief illness, saying he leaves behind a rich legacy.

tweeted: "Saddened by the death of Yogi C Deveshwar, ITC. Yogi excelled as a corporate professional and an and took his company to great heights. May God render peace to the departed soul & give to his family strength to bear this loss."

described him as a "giant in the corporate world".

"Saddened at the passing away of Y C Deveshwar Ji. 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," Banerjee said in a tweet.

In a statement, the (CII) expressed its condolences at the demise of Deveshwar, terming it a great loss for Indian industry. Deveshwar was the of CII in 2005-06.

"A titan and guiding luminary of Indian industry, Mr Deveshwar's commitment and passion for sustainable business was an inspiration for all. Mr Deveshwar's devotion to inclusive growth in was laudable and he led by example," CII said.

As ITC Chairman, Deveshwar transformed the cigarette into a with interests in FMCG, hospitality, IT and other sectors.

"For me personally, Mr Deveshwar, Yogi to all, was a who always found time to engage with all. We will deeply miss his erudite guidance and sage advice. Our thoughts and prayers are with his family at this time, Kirloskar said.

In a tweet, B K Goenka said he was a "of Inc who immensely contributed to the industry and society".

of RP-Sanjiv Goenka Group, Sanjeev Goenka, said, "Yogi was a and a visionary. I have lost a friend. I am deeply saddened."

Chairman said Deveshwar was an extraordinary professional, who steered the company in "troubled times and diversified it from tobacco to and hospitality. He has been a family friend for two generations."

Condoling his demise, Keventer Agro CMD credited Deveshwar for putting Kolkata on the global business map.

"He built a great company like ITC and diversified it into so many areas, all with sustainable long-term business and social models," said CMD of Srei Infrastructure Finance

Deveshwar (72), who stepped down from executive role as in 2017 but remained as a non-executive chairman, breathed his last at a private hospital in Gurugram.

He joined ITC in 1968 and was appointed as a on ITC's board on April 11, 1984. He rose to become its chief executive and chairman on January 1, 1996.

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

First Published: Sat, May 11 2019. 17:41 IST