The cause of death of the ITC chairman who battled a brief illness has yet to be disclosed.
MUMBAI: Yogesh Deveshwar, the long-serving chairman of ITC. who steered the cigarette maker’s pivot into consumer goods and built it into Asia’s most valuable tobacco company, has died at 72.He died after a brief illness at a private hospital in the northern Indian city of Gurugram near New Delhi, local news wire Press Trust of India reported, citing unidentified company sources.
He also reduced ITC’s reliance on cigarettes over the past decade by diversifying into consumer products ranging from instant noodles to soaps and incense sticks. He stepped down as CEO in 2017, but stayed on as the chairman and oversaw ITC surpassing Japan Tobacco to become the biggest Asian tobacco company by market value. British American Tobacco holds nearly 30% stake in ITC.
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