During his time as executive chairman, the company's net revenues grew 17-fold to Rs 42,777 crore and profit after tax nearly 40 times to Rs 10,289 crore. Total shareholder returns grew at a compounded annual rate of around 20%. Besides numbers, his biggest achievement was to transform ITC from a cigarette company to a diversified enterprise.
His vision drove ITC to pursue business models that today support over 6 million livelihoods, many amongst the weakest in society.
In 1996 there was opposition from a section of the shareholders when the company wanted to diversify.
Earlier, at the AGM of 2016, shareholders had approved his appointment for a period of three years with effect from February 5, 2017
As Deveshwar announces his decision to step down, he has a rich legacy to leave behind.
ITC board has given Deveshwar a five-year extension after a 15-year term as executive chairman.
Launched in 2000 with six installations, the number of e-choupals grew to 6,500 in 2007, and at one point of time, ITC was opening six such choupals a day.
To take the Rs 49,000 crore ITC to the top slot in the highly competitive FMCG business will require some aggression.
To get three-year term as non-executive chairman from Feb; firm to create CEO's post; AGM to ratify Sanjiv Puri, Rajiv Tandon's appointment as directors
ITC Limited could take its IT business -- ITC Infotech -- public, its Chairman Y C Deveshwar said on Friday.
ITC buys two-thirds of tobacco from Andhra Pradesh and the remaining one-third from Karnataka for its cigarette manufacturing division
The outgoing chairman believed in building for the future; for his successor, the challenge will be to maintain the momentum, says Ishita Ayan Dutt.
Even though ITC does not have a retirement age, Deveshwar's extension has been the subject of discussion since his five-year term was close to ending.
The "additional remuneration" includes monthly pay of Rs 1 crore, rent free furnished accommodation, medical expenses for him and spouse along with use of chauffeur driven company car for personal use and coverage under personal accident insurance. He will also be entitled to commission between Rs 30-60 lakh as sitting fees for attending meetings of board and committees of the company for each financial year.
We can be cash positive in no time, the day we decide to slow down investments
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
Pratishtha Deveshwar learnt to reframe her anguish into an opportunity for action. She felt that God had given her an opportunity to make an impact on the wider world.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
As per ITC's 'Report and Accounts 2019' filed at bourses, Puri's remuneration includes a basic salary of Rs 1.44 crore along with perks of Rs 40 lakh and performance bonus of Rs 4.32 crore.
Deveshwar wondered whether the countries FUNDING the anti-smoking NGOs had pictorial warnings.
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
This was achieved despite falling tourist arrivals post Babri Masjid demolition in December 1992.
The tobacco business was increasingly coming under prohibition by various regulations.
If capital flight took place in the country in the direction of some other countries and then imports took place for consumption here, then it would be worse for the Indian economy, the noted industrialist said.
The business conglomerate, with interests spanning across tobacco to FMCG segments, has sought shareholders' approval for the reappointment of Yogesh Chander Deveshwar, 64, as its wholetime director and chairman with effect from February 5, 2012.
Seven young students from different parts of the country had a wide-ranging discussion from bringing out Congress manifesto in Braille, setting up gender-neutral toilets to steps for removing inequalities in education system and caste discrimination in society with the Congress chief.
The Indian Institute of Management-Calcutta on Tuesday accepted the drastic fee cut proposed by the government.
The Confederation of Indian Industry on Thursday elected Sunil Kant Munjal and Y C Deveshwar as the president and vice president, respectively, for 2004-05.
In yet another sign of rising Indian dominance in the global business arena, eight corporate bigwigs from the country have made it to the list of the world's 100 best CEOs.
Industrial output growth rate remained flat in April.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
Asks India Inc for a list of concerns in 4 weeks, to coordinate policy response within 60 days; FM says prevailing cynicism based on perception, not facts.
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