Statement from Mr Sanjiv Puri, MD, ITC Ltd
We deeply mourn the passing away of Mr Y C Deveshwar, Chairman ITC. In this hour of profound grief and sorrow, we recall with respect and pride the legendary stewardship he provided to ITC over two decades as its Chairman. Inspired by a patriotic fervour, manifest in his clarion call of ‘Lets Put India First’, he led ITC's strategic thrust to create an exemplary Indian enterprise dedicated to serving national priorities. Conferred the Padma Bhushan by the Government of India for his outstanding service to the nation, Mr Deveshwar passionately championed the cause for sustainable and inclusive growth and the transformative role businesses could play in creating larger societal value. This vision drove ITC to pursue business models that today supports over 6 million livelihoods, many amongst the weakest in society.
Spearheading a journey of stellar growth that led the Harvard Business Review to rank him the 7th Best Performing CEO in the world, his leadership transformed ITC into a valuable and admired multi business conglomerate with a robust portfolio of front-ranking businesses in FMCG, Hotels, Paperboards & Paper, Packaging and Agri-Business. His Vision to make societal value creation a bedrock of corporate strategy also led ITC to become a global exemplar in sustainability and the only company in the world to be carbon positive, water positive and solid waste positive for over a decade.
His superordinate vision to build an exemplary Indian enterprise, to serve national priorities, create the businesses of tomorrow, impeccable values and personal integrity, the width and depth of his strategic thinking and his compassionate conduct of business will continue to inspire us in the journey ahead. In this hour of immense sadness, our hearts go out to his family, wife Mrs Bharti Deveshwar, children Gaurav and Garima and to their families to whom we offer our sincerest condolences.
Sanjiv Puri
Managing Director
ITC Ltd
