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