Yogesh Chander Deveshwar: Difference between revisions
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Deveshwar is the Past President of the Confederation of Indian Industry. He is also a member of the Board of Governors of the Indian School of Business and a former Chairman of the Society and Board of Governors of the Indian Institute of Management, Calcutta. He also serves on the National Executive Committees of some of India’s premier trade and industry bodies. |
Deveshwar is the Past President of the Confederation of Indian Industry. He is also a member of the Board of Governors of the Indian School of Business and a former Chairman of the Society and Board of Governors of the Indian Institute of Management, Calcutta. He also serves on the National Executive Committees of some of India’s premier trade and industry bodies. |
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==Succession controversy== |
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Deveshwar has spent more than 15 years as Executive Chairman of ITC Ltd.<ref>[http://www.forbes.com/2010/06/30/forbes-india-yogesh-chander-deveshwar-itc-tobacco.html Remaking Indian Tobacco Company]</ref>. However, the issue of succession at ITC remains uncertain. Although a professional manager with no significant equity in a publicly listed company, Deveshwar has expressed his unwillingness to retire in many interviews.<ref>[http://www.moneycontrol.com/news/business/2012-not-sacrosanct-for-endterm-at-itc-yc-deveshwar_454766.html 2012 not sacrosant]</ref>. In a interview with CNBC TV 18, Deveshwar appeared to become belligerent when questioned about succession. He said that was acceptable for 80 year olds to run conglomerates implying that he would like to stay for another 17 years as Chairman of ITC. In the same interview, he compared himself to the Prime Minister of India-Dr Manmohan Singh. |
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A Forbes article in July 2010 appears to suggest that Deveshwar may have subverted succession planning at the ITC board level in order to secure successive extensions.<ref>[http://www.forbes.com/2010/06/30/forbes-india-yogesh-chander-deveshwar-itc-tobacco.html Remaking Indian Tobacco Company]</ref>. The article notes the high power distance within ITC senior management and that over 10 years between 2000 and 2010 - there were no appointments to the ITC board. This, despite the fact that Deveshwar was due to retire in this period. |
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==Honours and awards== |
==Honours and awards== |
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Revision as of 13:08, 24 December 2010
Yogesh Chander Deveshwar | |
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| Born | February 4, 1947 |
Yogesh Chander Deveshwar is the Chairman and Chief Executive Officer of ITC Limited, one of India's largest multi-business conglomerates. He was appointed as a Director on the Board of the Company in 1984 and became the Chairman on 1 January 1996. He was recently given a five year extension starting 5 February 2007.
Education
Yogesh Chander Deveshwar was born on 4 February, 1947. He received his Bachelor of Technology Degree in Mechanical Engineering from the Indian Institute of Technology, Delhi in 1968. He has an AMP Diploma from Harvard Business School, United States, and also did a course on advanced training in hoteliering and Services at Cornell University, United States. .
Career
Deveshwar joined ITC Limited in 1968 as a Management pupil and in 1972 was appointed MBO Adviser to Corporate Headquarters in Calcutta. In 1974, he took over as Factory Manager in ITC’s Packaging and Printing Plant in Madras and was appointed General Manager of ITC’s Packaging and Printing Division in 1978. He was inducted into the Company’s Board in 1984, taking charge of Welcomgroup, which is the Hotel Division of ITC. He pioneered the first private sector Degree Institute of Hotel Management - the Welcomgroup School of Hotel Administration, Manipal and received the Hotelier of the Year Award in 1986 for his outstanding contribution to this industry. In 1991 he took over as Chairman of ITC’s India Tobacco Division and India Leaf Tobacco Division.
In November 1991, he headed Air India on lien from ITC Ltd. as Chairman and Managing Director. In 1994, Deveshwar rejoined ITC and was appointed whole time Director and Vice Chairman of the Company. He took over as Chairman of ITC in January 1996. He received the Marketing Man of the Year Award in 1994.
Deveshwar is the Past President of the Confederation of Indian Industry. He is also a member of the Board of Governors of the Indian School of Business and a former Chairman of the Society and Board of Governors of the Indian Institute of Management, Calcutta. He also serves on the National Executive Committees of some of India’s premier trade and industry bodies.
Honours and awards
Amongst several awards and recognitions during his distinguished career, Deveshwar has been honoured with the Global Leadership Award 2010 by the U.S. - India Business Council of the U.S. Chamber of Commerce, the SAM/SPG Sustainability Leadership Award 2007 conferred at the International Sustainability Leadership Symposium, Business Person of the Year Award 2006 by the UK Trade & Investment by His Royal Highness Prince Andrew, the Duke of York, and in January 2006, he was inducted to the prestigious Hall of Pride at the Indian Science Congress. He was also named then Manager Entrepreneur of the Year 2001 by Ernst & Young.