YC Deveshwar, one of India’s longest-serving corporate chiefs with over two decades at the helm as the executive chairman and CEO at ITC, passed away on Saturday. He was 72.

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The news of his death was confirmed by ITC.

Deveshwar, who was suffering from a long bout of illness in recent year, is survived by his wife, son and daughter.

ITC Chairman & Former CEO YC Deveshwar passed away this morning. A look back at his journey from IIT to the world of business and his quest to make ITC India’s number 1 FMCG company@ShereenBhan pic.twitter.com/Nz0v7IuO7S

— CNBC-TV18 News (@CNBCTV18News) May 11, 2019

Born on February 4, 1947 in Lahore, Deveshwar did his studies at IIT, Delhi followed by a management course at Harvard University.

Deveshwar joined ITC in 1968, according to the company's website. He was the architect of ITC’s bold transformation from a tobacco company and also battled British American Tobacco to ensure ITC remains an Indian company.

Between 1991 and 1994, Deveshwar led state-owned carrier Air India as the chairman and managing director.

He was also a director on the central board of the Reserve Bank of India.

Deveshwar stepped down as chief executive of ITC Ltd, India's largest cigarette maker, in 2017 and was serving as non-executive chairman.

First Published:May 11, 2019 10:19 AM IST