Deveshwar Ranks 7th on HBR list of top 100 CEOs - The Economic Times
December 24, 2012
ITC Ltd chairman YC Deveshwar has been ranked as the seventh best performing CEO in the world in a global study on the 100 best performing global CEOs by the Harvard Business Review in its January-February 2013 edition.
Deveshwar ranks first amongst the Indian CEOs featured in this elite list, which was decided after evaluating how much total shareholder returns had changed over a time period from the CEO's first day in office to 31st August 2012, as well as the overall increase in market capitalisation.
According to the Harvard Business Review, "we wanted this innovation to shine a spotlight on the CEOs worldwide who had created long-term value for their companies, and we wanted to give executives around the world critical benchmarks they could aim for".
This global recognition for Deveshwar also gives credit to the way he transformed ITC into a leading diversified multi-business Indian conglomerate from just a cigarette company, and making it an exemplar in sustainable and inclusive growth.
During his tenure as chairman over the last 16 years, ITC's has expanded into multiple new businesses such as FMCG, hotels, paperboards and packaging, agri-business and IT.
The company has also consistently delivered a shareholder return of around 26% in the last 15 years.
