Sanjiv Puri may be the new ITC Chairman as YC Deveshwar passes away
Popularly knows as Yogi or YCD, YC Deveshwar headed the diversification of ITC from a cigarettes maker to an FMCG company with interests in hospitality, paper, agri-business, lifestyle retail, packaged foods, and personal care, among others. Awarded Padma Bhushan in 2011, he led the company for many years and played an instrumental role in driving its growth.
Sadly, Deveshwar left all of us on Saturday morning after a brief period of illness. But what he leaves behind is a legacy of great work. And now the company will look for a new leader who should be able to step into his shoes and continue to drive business for ITC.
Deveshwar had been mentoring MD Sanjiv Puri for some time and the time has now come when Puri might have to use all the learnings and make his mentor proud.
Today is probably the day the decision of making Puri the new chairman might be taken.
Reports suggest that Puri was being mentored by Deveshwar for the dual role of chairman-cum-managing director for a transition originally scheduled for 2021-22. It was in 2017 Puri became CEO and then Managing Director the following year.
Puri is already chairman of one of the highest executive decision-making bodies, ITC’s corporate management committee. His growth in the company over the years has been rapid.
From being made the president of the FMCG businesses in 2014 and an executive director in 2015 to taking independent charge of executive leadership in 2017, Puri has seen rapid growth in ITC. Now as both Managing Director and Chairman Puri will have more responsibilities on his shoulders. All eyes full of expectations will now be on him. How he puts all that he learned from Deveshwar to use and how he takes a legacy created by Deveshwar ahead are a few things to look forward to.
Deveshwar shall forever be remembered for all the great work he did, the contributions he made to the company and the community at large.
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