Y.C. Deveshwar is the Indian Tobacco Company’s Chairman and the person who made the company what it is today. With his account, read through the profile of Y.C Deveshwar.

Y.C. Deveshwar is the Indian Tobacco Company’s Chairman and the person who made the company what it is today. With his account, read through the profile of Y.C Deveshwar.

Y.C Deveshwar
Born On: 4th February, 1947
Career: Entrepreneur

Born: Y.C. Deveshwar 4 February 1947 Professional: Yogesh Chandar Deveshwar, an entrepreneur, will always be remembered for his insightful leadership of ITC, a multi-business corporation. He assisted ITC in expanding its business and making its presence felt in the hospitality sector by taking over at a time when the company was facing a difficult time and its senior officials were under the scrutiny of investigating agencies. The company that was only involved in the production of cigarettes was transformed into a multi-faceted business. He drove the organization into new invasions of development regions which included rural organizations, retail and appropriation of marked FMCG (Quick Shopper Products). Additionally, he was instrumental in developing strategic concepts that established ITC as one of India’s organizations that generate value. Y.C. Deveshwar was in charge of general management, strategic management, and business leadership for more than 36 years. Y.C. Deveshwar received the Padma Bhushan from the Indian government in recognition of his outstanding service to the nation.

Life in the Past Y.C. Deveshwar was born on February 4, 1947. At the Indian Institute of Technology, Delhi, he earned his Bachelor of Technology degree in mechanical engineering in 1968. Additionally, he completed a Cornell University course on advanced training in hoteliering and services and earned an AMP Diploma from Harvard Business School in Massachusetts.

Vocation
In 1968, Y. C. Deveshwar joined the Indian Tobacco Organization (ITC) as an administration student. In 1972, he was made the MBO counselor to the Corporate Base camp in Kolkata. In 1974, he took over as the production line supervisor in ITC’s Bundling and Printing Plant in Chennai. In 1984, he was made a Chief and beginning around 1996 is filling in as the CEO and the Director of ITC Food varieties Restricted. Innovative business models gave ITC’s sustainability efforts new life under Y. C. Deveshwar’s leadership. ITC was the first Indian company to submit a sustainability report in accordance with the guidelines of the Global Reporting initiative in 2004. Under Deveshwar, ITC received the “World Business Award” from the International Chamber of Commerce (ICC), the International Business Leaders Forum (IBLF), and the United Nations Development Program (UNDP). The Harvard Business School is teaching ITC’s “e-Choupaw,” which is a digital infrastructure plan to empower Indian farmers. In Beijing in 2005, it received the organization’s “Development Gateway Award.”

Y. C. Deveshwar has been Chairman of ITC for approximately fifteen years, making him the longest-serving Chairman in the organization’s history. He was appointed Chairman and Managing Director of Air India in 1991. He completed this task successfully and served on the boards of Indian Airlines, the Airports Authority of India, the International Airports Authority of India, and Air Mauritius Limited.

Y.C. Deveshwar has also served as the Confederation of Indian Industry’s President, overseeing its operations. He also serves on the Indian Institute of Management’s Board of Governors and the Indian School of Business’s Board of Governors.

Contributions to Business During Y.C. Deveshwar’s tenure at ITC, the company’s growth from a 5,000-crore operation to a 27,000-crore operation was witnessed by the business community. Profits for the business increased from 260 crores to 4000 crores. The worth of ITC developed from 5, 500 crores in 1996 to 1, 14, 000 crores in 2010. In April 2011, the company had a market capitalization of around 147210 crores.

Deveshwar devised strategies to lessen the company’s reliance on tobacco sales in addition to guiding ITC out of a crisis that occurred in the 1990s. As a result of anti-smoking campaigns and stringent regulations, the industry was becoming more competitive. He continued with the hotel and paperback businesses, expanded the FMCG business into non-cigarette areas, and introduced additional products bearing the Wills brand. “The Welcome Group of Hotel Administration” was established in Manipal by Deveshwar on his own initiative. He received the award for “Best Hotelier of the Year” in 1986 for his outstanding contribution to the sector.

Awards and Accolades
Honorary Fellowship of the All India Management Association
Alumni Award of the Indian Institute of Technology, Delhi
‘Marketing Man of the Year’ Award, 1994
‘Manager Entrepreneur of the Year’ by Ernst and Young, 2001
‘Business Person of the Year’ Award, 2006
Inducted to the ‘Hall of Pride’ at the Indian Science Congress, 2006
Lakshya Business Visionary Award, 2006
Global Leadership Award by U.S – India Business School of the U.S Chamber of Commerce, 2010
SAM/SPG Sustainability Leadership Award, 2007
Padma Bhushan by the Government of India, 2011

Timeline

1947: Born in the month of February.
1968: Finished his Bachelor of Technology degree in Mechanical Engineering from the Indian Institute of Technology.
1972: Made the MBO advisor to the Corporate Headquarters in Kolkata.
1974: Took over as factory manager in ITC’s Packaging and Printing Plant in Chennai.
1984: Appointed as the Director on the Board of ITC Limited.
1986: Conferred with ‘The Best Hotelier of the Year’ Award
1991: Chosen to head Air India as Chairman and Managing Director.
1996: Became Chairman of ITC Foods Limited.

 

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