ENTREPRENEUR

Y.C DEVESHWAR

ROOPESH V NAMBOODIRI
SMS MBA(TT)
ROLL NO : 34

LIFE 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.

EARLY LIFE
Y.C Deveshwar was born on 4th February, 1947. In 1968, he finished his Bachelor of
Technology degree in Mechanical Engineering at the Indian Institute of Technology, Delhi.
He also received an AMP Diploma from the Harvard Business School, Massachusetts and did
a course on advanced training in Hoteliering and Services from Cornell University in United
States.

CAREER
In 1968, Y. C. Deveshwar joined the Indian Tobacco Company (ITC) as a
management pupil. In 1972, he was made the MBO advisor to the Corporate
Headquarters in Kolkata. In 1974, he took over as the factory manager in ITC's
Packaging and Printing Plant in Chennai. In 1984, he was made a Director and since
1996 is serving as the Chief Executive and the Chairman of ITC Foods Limited
In 2004, ITC became the first Indian organisation to submit its sustainability report as
per the guidelines of the Global Reporting initiative. Under Deveshwar, ITC won the
'World Business Award' given jointly by the United Nations Development Program
(UNDP), International Chamber of Commerce (ICC) and International Business
Leader's Forum (IBLF). ITC's 'e-Choupaw' which is a digital infrastructure plan to
empower the farmers in India is being taught in the Harvard Business School. It won
the organisation, the 'Development Gateway Award 'in Beijing in 2005.
In 1991, he was chosen to head Air India as Chairman and Managing Director. He
was successful in this assignment and was also a Member of the Board of Indian
Airlines, International Airports Authority of India, Airports Authority of India and Air
Mauritius Limited.
Y.C Deveshwar has also worked at the helm of affairs of the Confederation of Indian
Industry, as its President. He is a member of the Board of Governors in the Indian
School of Business and the Board of Governors of the Indian Institute of Management
too.

CONTRIBUTION TO BUSINESS
During Y.C Deveshwar's term at ITC, the business world witnessed the transformation of
ITC from a 5,000 crore company to a 27,000 crore company. The company's profits grew
from 260 crores to 4000 crores. The value of ITC grew from 5, 500 crores in 1996 to 1, 14,
000 crores in 2010. The market capitalization of the organization was around 147210 crores
on April 2011.
In his two decades at the helm, YC Deveshwar has worked towards transforming ITC
Ltd into a diversified group of companies with significant forays in FMCGs, paper, hotels,
agri business and IT. The Harvard Business Review rated him the worlds 7th best performing
CEO in 2013, on the basis of growth in total shareholder returns and market capitalization.
ITCs bold diversification and consistent shareholder returns of about 26% for the last decade
and a half are among the key indicators that testify to Deveshwars sure eye in the captains
seat.
Deveshwars quest to diversify the ITC brand has involved something of a tightrope
walk. Tobacco is still the major chunk of ITCs business, and he has had to insulate that
business from the ups and downs of the companys learning curve in other areas. He has built
a significant non-tobacco business, but all the while he has had to ensure that ITC does not
jettison its historical leadership in a space that he nonetheless wants to move beyond. The
ability to stick to his guns and his mastery of strategy have helped him drive this vision
forward. Whatever the future holds for ITC, a major part of it is due to Deveshwars ability to
look beyond the tried and true and opt for change and growth.
Apart from guiding ITC from a crisis period which hit the company during the
nineties, Deveshwar came forward with plans to decrease the company's dependence on
tobacco sales. The business was becoming tougher in the wake of restrictive guidelines and
anti-smoking campaigns. He continued with the hotel and paper back business, expanded the
FMCG business to non-cigarette areas and extended the Wills brand to other products.
Deveshwar took the initiative to set up 'The Welcome Group of Hotel Administration' in
Manipal. In 1986, he was conferred with the 'Best Hotelier of the Year' award for his
outstanding contribution to the industry.

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