ITC Limited
Content
ITC Limited
ITC Limited,[1] is an Indian conglomerate with a turnover of US $ 6 billion and a market capitalisation of over US $ 22 Billion. The company has its registered office in Kolkata. The company is currently headed by Yogesh Chander Deveshwar. It employs over 26,000 people at more than 60 locations across India and is listed on Forbes 2000. ITC Limited completes 100 years on 24th August, 2010. ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology, Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG products. While ITC is an outstanding market leader in its traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports, it is rapidly gaining market share even in its nascent businesses of Packaged Foods & Confectionery, Branded Apparel, Personal Care and Stationery. ITC's aspiration to be an exemplar in sustainability practices is manifest in its status as the only company in the world of its size and diversity to be 'carbon positive', 'water positive' and 'solid waste recycling positive.' In addition, ITC's businesses have created sustainable livelihoods for more than 5 million people, a majority of whom represent the poorest in rural India.
List of products & brands
In FMCG, ITC has a strong presence in:
•
• • • • •
Cigarettes: W. D. & H. O. Wills, Gold Flake, Navy Cut, Insignia, India Kings, Classic (Verve, Regular, Mild & Ultra Mild), Silk Cut, Scissors, Capstan, Berkeley, Bristol, Lucky Strike and Flake. Foods: (Kitchens of India; Ashirvaad; Minto; Sunfeast; Candyman; Bingo brands in Ready to Eat, Staples, Biscuits, Confectionery and Snack Foods); Apparel: (Wills Lifestyle and John Players brands); Personal care: (Fiama di Wills; Vivel; Essenza di Wills; Superia brands of products in perfumes, haircare and skincare) Stationery: (Classmate and Paperkraft brands) Safety Matches and Agarbattis: [Ship (through ownership of WIMCO); iKno; Mangaldeep; Aim brands]
Other businesses include:
•
Hotels: ITC's hotels (under brands including ITC Hotel /Welcomhotel) have evolved into being India's second largest hotel chain with over 80 hotels throughout the country. ITC is also the exclusive franchisee in India of two brands owned by Sheraton International Inc.- The Luxury Collection and Sheraton which ITC uses in association with its own brands in the luxury 5 star segment. Brands in the hospitality sector owned and operated by its subsidiaries include Fortune and Welcomheritage brands.
• • •
Paperboard, Specialty Paper, Graphic and other Paper; Packaging and Printing for diverse international and Indian clientele. Infotech (through its near-wholly owned subsidiary ITC Infotech India Limited which is a SEI CMM Level 5 company)
Rural initiatives
ITC's Agri-Business is India's second largest exporter of agricultural products. ITC is one of the India's biggest foreign exchange earners (US $ 2 billion in the last decade). The Company's 'eChoupal' initiative is enabling Indian agriculture significantly enhance its competitiveness by empowering Indian farmers through the power of the Internet. This transformational strategy, which has already become the subject matter of a case study at Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Company's marketing reach. The company places computers with Internet access in rural farming villages; the e-Choupals serve as both a social gathering place for exchange of information (choupal means gathering place in Hindi) and an e-commerce hub. What began as an effort to re-engineer the procurement process for soy, tobacco, wheat, shrimp, and other cropping systems in rural India has also created a highly profitable distribution and product design channel for the company—an ecommerce platform that is also a low-cost fulfillment system focused on the needs of rural India. The e-Choupal system has also catalyzed rural transformation that is helping to alleviate rural isolation, create more transparency for farmers, and improve their productivity and incomes.
Corporate philanthropy
ITC Echoupal creatively leverages information technology to set up a meta-market in favour of India's small and poor farmers, who would otherwise continue to operate and transact in 'unevolved' markets. As of July 2010, services through 6500 Echoupal across 10 states, reach more than 4 million farmers in about 40,000 villages. Free access to Internet is also opening windows of rural India to the world at large. ITC eChoupal e-choupal is now being regarded as a reliable delivery mechanism for resource development initiatives. Its potential is being tested through pilot projects in healthcare, educational services, water management and cattle health management with the help of several service providers including non-governmental organizations. When Classmate notebooks were launched, it came up with the initiative of contributing 1 rupee towards the education of poor children,from every single notebook it sold. Classmate, has launched a programme called Classmate Ideas for India challenge. The programme would be a part of the company's centenary initiative.[2] The nation-wide programme would invite ideas of the youth, who have the potential to transform India. Classmate Ideas for
India challenge plans to reach out to 25 lakh students across 30 cities, 500 schools and 200 colleges across the country.[3]
Forbes ranking
ITC features on the Forbes Global 2000 rankings for 2007 at position 1256 [4]. ITC is the only Indian FMCG company that features on the Forbes Global 2000 rankings for 2009 at position 987.[5] ITC also featured on the Forbes World's Most reputable Companies List at position 95.[6]
Global and other Honours
•
ITC is the first from India and among the first 10 companies in the world to publish its Sustainability Report in compliance (at the highest A+ level) with the latest G3 guidelines of the Netherlands-based Global Reporting Initiative (GRI), a UN-backed, multistakeholder international initiative to develop and disseminate globally applicable Sustainability Reporting Guidelines. ITC is the first Indian company and the second in the world to win the prestigious Development Gateway Award. It won the $100,000 Award for the year 2005 for its trailblazing ITC e-Choupal initiative which has achieved the scale of a movement in rural India. The Development Gateway Award recognizes ITC's e-Choupal as the most exemplary contribution in the field of Information and Communication Technologies (ICT) for development during the last 10 years. ITC e-Choupal won the Award for the importance of its contribution to development priorities like poverty reduction, its scale and replicability, sustainability and transparency. ITC has won the inaugural 'World Business Award', the worldwide business award recognising companies who have made significant efforts to create sustainable livelihood opportunities and enduring wealth in developing countries. The award has been instituted jointly by the United Nations Development Programme (UNDP), International Chamber of Commerce (ICC) and the HRH Prince of Wales International Business Leaders Forum (IBLF). ITC is the first Corporate to receive the Annual FICCI Outstanding Vision Corporate Triple Impact Award in 2007 for its invaluable contribution to the triple bottom line benchmarks of building economic, social and natural capital for the nation. ITC has won the Golden Peacock Awards for 'Corporate Social Responsibility (Asia)' in 2007, the Award for ‘CSR in Emerging Economies 2005’ and ‘Excellence in Corporate Governance' in the same year. These Awards have been instituted by the Institute of Directors, New Delhi, in association with the World Council for Corporate Governance and Centre for Corporate Governance.
•
•
•
•
•
ITC Hotel Royal Gardenia, Bengaluru is the first Indian Hotel and world's largest, to get the LEED Platinum rating - the highest green building certification globally. The Stockholm Challenge 2006 for the e-Choupal initiative. This award is for using Information Technology for the economic development of rural communities. United Nations Industrial Development Organisation (UNIDO) Award at the international conference on Sharing Innovative Agribusiness Solutions 2008 at Cairo for ITC's exemplary initiatives in agri business through the eChoupal. The Corporate Social Responsibility Crown Award for Water Practices from UNESCO and Water Digest for its distinguished work carried out in the water sector in India. ITC also received the National Award for Excellence in Water Management 2007 in the 'beyond the fence' category from the CII Sohrabji Godrej Green Business Centre for its leadership role in implementing water and watershed management practices. The watershed programme also won the Asian CSR Award 2007 for Environmental Excellence given by the Asian Institute of Management. The Award recognizes and honours Asian companies for outstanding, innovative and world-class projects. The Company also received the Ryutaro Hashimoto Incentive Prize 2007 for Environment & Development from the Asia Pacific Forum. This Award aims at promoting information dissemination of good practices towards sustainable development in the Asia-Pacific region. The Readers' Digest Pegasus Award for corporate social responsibility, recognising outstanding work done by socially conscious companies. The Corporate Award for Social Responsibility 2008 from The Energy and Resources Institute (TERI) in recognition of its exemplary initiatives in implementing integrated watershed development programmes across 7 states in India. The company also won the award in 2004 for its e-Choupal initiative. The Award provides impetus to sustainable development and encourages ongoing social responsibility processes within the corporate sector. The 'Enterprise Business Transformation Award' for Asia Pacific (Apac), instituted by Infosys Technologies and Wharton School of the University of Pennsylvania for its celebrated e-Choupal initiative. The Best Corporate Social Responsibility Practice Award 2008 jointly instituted by the Bombay Stock Exchange, Times Foundation and the NASSCOM Foundation. The NASSCOM – CNBC IT User Award 2008 in the Retail & Logistics category. The Company has been recognised for its pro-active and holistic approach to
•
•
•
•
•
•
•
•
•
IT adoption and the seamless alignment of IT with business strategy. This is the fourth time that ITC has won Nasscom's Best IT User Award since it was instituted in 2003.
•
The Institute of Chartered Accountants of India Award for Excellence in Financial Reporting with its Annual Report and Accounts, adjudged as a commendable entry under the Category 'Manufacturing and Trading Enterprises’. The Business Today Award for the Best Managed Company in recognition of its outstanding initiatives in the consumer products segment.
•
Yogesh Chander Deveshwar
Yogesh Chander Deveshwar is the Chairman and Chief Executive Officer of ITC Limited, one of India's largest multi-business conglomerates. He was appointed as a Director on the Board of the Company in 1984 and became the Chairman on 1 January 1996. He was recently given a five year extension starting 5 February 2007.
Education
Yogesh Chander Deveshwar was born on 4 February, 1947. He received his Bachelor of Technology Degree in mechanical engineering from the Indian Institute of Technology, Delhi in 1968. He then obtained an AMP Diploma from Harvard Business School, United States, and also did a course on advanced training in hoteliering and Services at Cornell University, United States. He is the person who dreamt of making ITC Limited into India's largest fast moving consumer goods company.
Career
Deveshwar joined Indian Tobacco Company in 1968 as a Management pupil and in 1972 was appointed MBO Adviser to Corporate Headquarters in Calcutta. In 1974, he took over as Factory Manager in ITC’s Packaging and Printing Plant in Madras and was appointed General Manager of ITC’s Packaging and Printing Division in 1978. He was inducted into the Company’s Board in 1984, taking charge of Welcomgroup, which is the Hotel Division of ITC. He pioneered the first private sector Degree Institute of Hotel Management - the Welcomgroup School of Hotel Administration, Manipal and received the Hotelier of the Year Award in 1986 for his outstanding contribution to this industry. In 1991 he took over as Chairman of ITC’s Indian Tobacco Division and Indian Leaf Tobacco Development Division. In November 1991, he headed Air India on lien from ITC Ltd. As Chairman and Managing Director. In 1994 Deveshwar rejoined ITC and was appointed whole time Director and Vice
Chairman of the Company. He took over as Chairman of ITC in January 1996. He received the Marketing Man of the Year Award in 1994. Deveshwar is the Past President of the Confederation of Indian Industry. He is also a member of the Board of Governors of the Indian School of Business and a former Chairman of the Society and Board of Governors of the Indian Institute of Management, Calcutta. He also serves on the National Executive Committees of some of India’s premier trade and industry bodies. Yogi deveshwar is an awesome Human Being.
Honours and awards
Amongst several awards and recognitions during his distinguished career, Deveshwar has been honoured with the Global Leadership Award 2010 by the U.S. - India Business Council of the U.S. Chamber of Commerce, the SAM/SPG Sustainability Leadership Award 2007 conferred at the International Sustainability Leadership Symposium, Business Person of the Year Award 2006 by the UK Trade & Investment by His Royal Highness Prince Andrew, the Duke of York, and in January 2006, he was inducted to the prestigious Hall of Pride at the Indian Science Congress. He was also named then Manager Entrepreneur of the Year 2001 by Ernst & Young.
EXECUTIVE PROFILE*
Y. C. Deveshwar Executive Chairman, Chief Executive Officer, Chairman of Nominations Committee, Chairman of Sustainability Committee, Chairman of Corporate Management Committee and Chairman of ITC Hotels Limited, ITC Ltd. Age 62 Total Annual Compensation 69,600,000 INR
As of Fiscal Year 2010
This person is connected to 30 board members in 4 different organizations across 7 different industries. See Board Relationships
BACKGROUND*
Yogesh Chander Deveshwar has been Chief Executive Officer of ITC Hotels Ltd., since January 1, 1996. Mr. Deveshwar has been Chief Executive Officer of ITC Ltd. since January 1, 1996. He has been Chief Executive Officer and Chairman of the Board at ITC Foods Limited since 1996. He served as President of Confederation of Indian Industry. He is respected for the deep insight with which he steers a Multi Business corporation like ITC, and is credited with several key strategic interventions which have positioned ITC as a well managed, value creating company in India. He served as Managing Director of Air India Limited (now National Aviation Company of India Limited) from November 13, 1991 to February 10, 1994. He has a career spanning 36 years of experience across general management, strategic management and business leadership. Mr. Deveshwar has been Executive Chairman of the Board of ITC Ltd., since January 1, 1996 and
ITC Hotels Limited since January 1, 1996. He serves as Chairman of Woodlands Hospital & Medical Research Centre Limited. He also serves as Chairman of Surya Nepal Private Limited. He served as Chairman of Air India Ltd. from November 13, 1991 to February 10, 1994. He served as Chairman of the Agriculture Council of the Confederation of Indian Industries. He also serves as Director of Surya Nepal Private Limited. He has been Executive Director of ITC Hotels Ltd since 1984 and has been Director of ITC Ltd since 1984. He has been a Director at ITC Foods Limited since 1984. Mr. Deveshwar serves as Non Executive Director of HT Media Ltd. He serves as Director of Woodlands Hospital & Medical Research Centre Limited, Surya Tobacco Co. (P) Limited; Confederation of Indian Industry, and West Bengal Industrial Development Corporation Limited. He was Member on the Boards of Indian Airlines (India's domestic carrier), International Airports Authority of India, Airports Authority of India, National Aviation Company of India Limited and Air Mauritius Ltd. He served as Director of International Travel House Limited until May 5, 2006. Mr. Deveshwar serves on the Executive Committees of some of India's premier trade and industry bodies. He is Tollygunge Club Limited General Committee Member. The Government of India has nominated him the Chairman of the Society and Board of Governors of the Indian Institute of Management, Kolkata. Mr. Deveshwar is a Member of Governing Board at Indian School of Business. He has also been honoured with the 'Manager Entrepreneur of the Year Award 2001' by Ernst & Young. Mr. Deveshwar has been honoured with several recognitions within India, including the Honorary Fellowship of the All India Management Association, the Distinguished Alumni Award of the Indian Institute of Technology, Delhi, the 'Meridien Hotelier of the Year' Award and the Marketing Man of the Year from A&M, the country's leading marketing publication. Mr. Deveshwar holds B.Tech in Mech. engineering from Indian Institute of Technology (IIT), Delhi.
Read Full Background
CORPORATE HEADQUARTERS*
27175 Energy Way Novi, Michigan 48377 United States Phone: 248-946-3000 Fax: --
ANNUAL COMPENSATION*
Salary Bonus Total Annual Compensation 24,000,000 45,600,000 69,600,000
STOCK OPTIONS*
All Other Compensation 3,887,000
BOARD OF DIRECTORS MEMBERSHIPS*
Non Executive Director HT Media Ltd Former Chairman and Managing Director National Aviation Company of India Limited Former Director International Travel House 1984-Present Executive Chairman, Chief Executive Officer, Chairman of Nominations Committee, Chairman of Sustainability Committee, Chairman of Corporate Management Committee and Chairman of ITC Hotels Limited ITC Ltd. 1984-Present Executive Chairman, Chairman of Nominations Committee, Chairman of Corporate Management Committee and Chairman of ITC Ltd ITC Hotels Ltd. 1984-Present Chairman and Chief Executive
TOTAL COMPENSATION*
Total Annual Cash Compensation Total Short Term Compensation Other Long Term Compensation Total Calcula 69,600,00 0 69,600,00 0 3,887,000
Also refer the website for ITC Board of Directors details http://www.itcportal.com/about-itc/itc-leadership/board-of-directors.aspx
ITC Limited,[1] is an Indian conglomerate with a turnover of US $ 6 billion and a market capitalisation of over US $ 22 Billion. The company has its registered office in Kolkata. The company is currently headed by Yogesh Chander Deveshwar. It employs over 26,000 people at more than 60 locations across India and is listed on Forbes 2000. ITC Limited completes 100 years on 24th August, 2010. ITC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology, Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG products. While ITC is an outstanding market leader in its traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports, it is rapidly gaining market share even in its nascent businesses of Packaged Foods & Confectionery, Branded Apparel, Personal Care and Stationery. ITC's aspiration to be an exemplar in sustainability practices is manifest in its status as the only company in the world of its size and diversity to be 'carbon positive', 'water positive' and 'solid waste recycling positive.' In addition, ITC's businesses have created sustainable livelihoods for more than 5 million people, a majority of whom represent the poorest in rural India.
List of products & brands
In FMCG, ITC has a strong presence in:
•
• • • • •
Cigarettes: W. D. & H. O. Wills, Gold Flake, Navy Cut, Insignia, India Kings, Classic (Verve, Regular, Mild & Ultra Mild), Silk Cut, Scissors, Capstan, Berkeley, Bristol, Lucky Strike and Flake. Foods: (Kitchens of India; Ashirvaad; Minto; Sunfeast; Candyman; Bingo brands in Ready to Eat, Staples, Biscuits, Confectionery and Snack Foods); Apparel: (Wills Lifestyle and John Players brands); Personal care: (Fiama di Wills; Vivel; Essenza di Wills; Superia brands of products in perfumes, haircare and skincare) Stationery: (Classmate and Paperkraft brands) Safety Matches and Agarbattis: [Ship (through ownership of WIMCO); iKno; Mangaldeep; Aim brands]
Other businesses include:
•
Hotels: ITC's hotels (under brands including ITC Hotel /Welcomhotel) have evolved into being India's second largest hotel chain with over 80 hotels throughout the country. ITC is also the exclusive franchisee in India of two brands owned by Sheraton International Inc.- The Luxury Collection and Sheraton which ITC uses in association with its own brands in the luxury 5 star segment. Brands in the hospitality sector owned and operated by its subsidiaries include Fortune and Welcomheritage brands.
• • •
Paperboard, Specialty Paper, Graphic and other Paper; Packaging and Printing for diverse international and Indian clientele. Infotech (through its near-wholly owned subsidiary ITC Infotech India Limited which is a SEI CMM Level 5 company)
Rural initiatives
ITC's Agri-Business is India's second largest exporter of agricultural products. ITC is one of the India's biggest foreign exchange earners (US $ 2 billion in the last decade). The Company's 'eChoupal' initiative is enabling Indian agriculture significantly enhance its competitiveness by empowering Indian farmers through the power of the Internet. This transformational strategy, which has already become the subject matter of a case study at Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Company's marketing reach. The company places computers with Internet access in rural farming villages; the e-Choupals serve as both a social gathering place for exchange of information (choupal means gathering place in Hindi) and an e-commerce hub. What began as an effort to re-engineer the procurement process for soy, tobacco, wheat, shrimp, and other cropping systems in rural India has also created a highly profitable distribution and product design channel for the company—an ecommerce platform that is also a low-cost fulfillment system focused on the needs of rural India. The e-Choupal system has also catalyzed rural transformation that is helping to alleviate rural isolation, create more transparency for farmers, and improve their productivity and incomes.
Corporate philanthropy
ITC Echoupal creatively leverages information technology to set up a meta-market in favour of India's small and poor farmers, who would otherwise continue to operate and transact in 'unevolved' markets. As of July 2010, services through 6500 Echoupal across 10 states, reach more than 4 million farmers in about 40,000 villages. Free access to Internet is also opening windows of rural India to the world at large. ITC eChoupal e-choupal is now being regarded as a reliable delivery mechanism for resource development initiatives. Its potential is being tested through pilot projects in healthcare, educational services, water management and cattle health management with the help of several service providers including non-governmental organizations. When Classmate notebooks were launched, it came up with the initiative of contributing 1 rupee towards the education of poor children,from every single notebook it sold. Classmate, has launched a programme called Classmate Ideas for India challenge. The programme would be a part of the company's centenary initiative.[2] The nation-wide programme would invite ideas of the youth, who have the potential to transform India. Classmate Ideas for
India challenge plans to reach out to 25 lakh students across 30 cities, 500 schools and 200 colleges across the country.[3]
Forbes ranking
ITC features on the Forbes Global 2000 rankings for 2007 at position 1256 [4]. ITC is the only Indian FMCG company that features on the Forbes Global 2000 rankings for 2009 at position 987.[5] ITC also featured on the Forbes World's Most reputable Companies List at position 95.[6]
Global and other Honours
•
ITC is the first from India and among the first 10 companies in the world to publish its Sustainability Report in compliance (at the highest A+ level) with the latest G3 guidelines of the Netherlands-based Global Reporting Initiative (GRI), a UN-backed, multistakeholder international initiative to develop and disseminate globally applicable Sustainability Reporting Guidelines. ITC is the first Indian company and the second in the world to win the prestigious Development Gateway Award. It won the $100,000 Award for the year 2005 for its trailblazing ITC e-Choupal initiative which has achieved the scale of a movement in rural India. The Development Gateway Award recognizes ITC's e-Choupal as the most exemplary contribution in the field of Information and Communication Technologies (ICT) for development during the last 10 years. ITC e-Choupal won the Award for the importance of its contribution to development priorities like poverty reduction, its scale and replicability, sustainability and transparency. ITC has won the inaugural 'World Business Award', the worldwide business award recognising companies who have made significant efforts to create sustainable livelihood opportunities and enduring wealth in developing countries. The award has been instituted jointly by the United Nations Development Programme (UNDP), International Chamber of Commerce (ICC) and the HRH Prince of Wales International Business Leaders Forum (IBLF). ITC is the first Corporate to receive the Annual FICCI Outstanding Vision Corporate Triple Impact Award in 2007 for its invaluable contribution to the triple bottom line benchmarks of building economic, social and natural capital for the nation. ITC has won the Golden Peacock Awards for 'Corporate Social Responsibility (Asia)' in 2007, the Award for ‘CSR in Emerging Economies 2005’ and ‘Excellence in Corporate Governance' in the same year. These Awards have been instituted by the Institute of Directors, New Delhi, in association with the World Council for Corporate Governance and Centre for Corporate Governance.
•
•
•
•
•
ITC Hotel Royal Gardenia, Bengaluru is the first Indian Hotel and world's largest, to get the LEED Platinum rating - the highest green building certification globally. The Stockholm Challenge 2006 for the e-Choupal initiative. This award is for using Information Technology for the economic development of rural communities. United Nations Industrial Development Organisation (UNIDO) Award at the international conference on Sharing Innovative Agribusiness Solutions 2008 at Cairo for ITC's exemplary initiatives in agri business through the eChoupal. The Corporate Social Responsibility Crown Award for Water Practices from UNESCO and Water Digest for its distinguished work carried out in the water sector in India. ITC also received the National Award for Excellence in Water Management 2007 in the 'beyond the fence' category from the CII Sohrabji Godrej Green Business Centre for its leadership role in implementing water and watershed management practices. The watershed programme also won the Asian CSR Award 2007 for Environmental Excellence given by the Asian Institute of Management. The Award recognizes and honours Asian companies for outstanding, innovative and world-class projects. The Company also received the Ryutaro Hashimoto Incentive Prize 2007 for Environment & Development from the Asia Pacific Forum. This Award aims at promoting information dissemination of good practices towards sustainable development in the Asia-Pacific region. The Readers' Digest Pegasus Award for corporate social responsibility, recognising outstanding work done by socially conscious companies. The Corporate Award for Social Responsibility 2008 from The Energy and Resources Institute (TERI) in recognition of its exemplary initiatives in implementing integrated watershed development programmes across 7 states in India. The company also won the award in 2004 for its e-Choupal initiative. The Award provides impetus to sustainable development and encourages ongoing social responsibility processes within the corporate sector. The 'Enterprise Business Transformation Award' for Asia Pacific (Apac), instituted by Infosys Technologies and Wharton School of the University of Pennsylvania for its celebrated e-Choupal initiative. The Best Corporate Social Responsibility Practice Award 2008 jointly instituted by the Bombay Stock Exchange, Times Foundation and the NASSCOM Foundation. The NASSCOM – CNBC IT User Award 2008 in the Retail & Logistics category. The Company has been recognised for its pro-active and holistic approach to
•
•
•
•
•
•
•
•
•
IT adoption and the seamless alignment of IT with business strategy. This is the fourth time that ITC has won Nasscom's Best IT User Award since it was instituted in 2003.
•
The Institute of Chartered Accountants of India Award for Excellence in Financial Reporting with its Annual Report and Accounts, adjudged as a commendable entry under the Category 'Manufacturing and Trading Enterprises’. The Business Today Award for the Best Managed Company in recognition of its outstanding initiatives in the consumer products segment.
•
Yogesh Chander Deveshwar
Yogesh Chander Deveshwar is the Chairman and Chief Executive Officer of ITC Limited, one of India's largest multi-business conglomerates. He was appointed as a Director on the Board of the Company in 1984 and became the Chairman on 1 January 1996. He was recently given a five year extension starting 5 February 2007.
Education
Yogesh Chander Deveshwar was born on 4 February, 1947. He received his Bachelor of Technology Degree in mechanical engineering from the Indian Institute of Technology, Delhi in 1968. He then obtained an AMP Diploma from Harvard Business School, United States, and also did a course on advanced training in hoteliering and Services at Cornell University, United States. He is the person who dreamt of making ITC Limited into India's largest fast moving consumer goods company.
Career
Deveshwar joined Indian Tobacco Company in 1968 as a Management pupil and in 1972 was appointed MBO Adviser to Corporate Headquarters in Calcutta. In 1974, he took over as Factory Manager in ITC’s Packaging and Printing Plant in Madras and was appointed General Manager of ITC’s Packaging and Printing Division in 1978. He was inducted into the Company’s Board in 1984, taking charge of Welcomgroup, which is the Hotel Division of ITC. He pioneered the first private sector Degree Institute of Hotel Management - the Welcomgroup School of Hotel Administration, Manipal and received the Hotelier of the Year Award in 1986 for his outstanding contribution to this industry. In 1991 he took over as Chairman of ITC’s Indian Tobacco Division and Indian Leaf Tobacco Development Division. In November 1991, he headed Air India on lien from ITC Ltd. As Chairman and Managing Director. In 1994 Deveshwar rejoined ITC and was appointed whole time Director and Vice
Chairman of the Company. He took over as Chairman of ITC in January 1996. He received the Marketing Man of the Year Award in 1994. Deveshwar is the Past President of the Confederation of Indian Industry. He is also a member of the Board of Governors of the Indian School of Business and a former Chairman of the Society and Board of Governors of the Indian Institute of Management, Calcutta. He also serves on the National Executive Committees of some of India’s premier trade and industry bodies. Yogi deveshwar is an awesome Human Being.
Honours and awards
Amongst several awards and recognitions during his distinguished career, Deveshwar has been honoured with the Global Leadership Award 2010 by the U.S. - India Business Council of the U.S. Chamber of Commerce, the SAM/SPG Sustainability Leadership Award 2007 conferred at the International Sustainability Leadership Symposium, Business Person of the Year Award 2006 by the UK Trade & Investment by His Royal Highness Prince Andrew, the Duke of York, and in January 2006, he was inducted to the prestigious Hall of Pride at the Indian Science Congress. He was also named then Manager Entrepreneur of the Year 2001 by Ernst & Young.
EXECUTIVE PROFILE*
Y. C. Deveshwar Executive Chairman, Chief Executive Officer, Chairman of Nominations Committee, Chairman of Sustainability Committee, Chairman of Corporate Management Committee and Chairman of ITC Hotels Limited, ITC Ltd. Age 62 Total Annual Compensation 69,600,000 INR
As of Fiscal Year 2010
This person is connected to 30 board members in 4 different organizations across 7 different industries. See Board Relationships
BACKGROUND*
Yogesh Chander Deveshwar has been Chief Executive Officer of ITC Hotels Ltd., since January 1, 1996. Mr. Deveshwar has been Chief Executive Officer of ITC Ltd. since January 1, 1996. He has been Chief Executive Officer and Chairman of the Board at ITC Foods Limited since 1996. He served as President of Confederation of Indian Industry. He is respected for the deep insight with which he steers a Multi Business corporation like ITC, and is credited with several key strategic interventions which have positioned ITC as a well managed, value creating company in India. He served as Managing Director of Air India Limited (now National Aviation Company of India Limited) from November 13, 1991 to February 10, 1994. He has a career spanning 36 years of experience across general management, strategic management and business leadership. Mr. Deveshwar has been Executive Chairman of the Board of ITC Ltd., since January 1, 1996 and
ITC Hotels Limited since January 1, 1996. He serves as Chairman of Woodlands Hospital & Medical Research Centre Limited. He also serves as Chairman of Surya Nepal Private Limited. He served as Chairman of Air India Ltd. from November 13, 1991 to February 10, 1994. He served as Chairman of the Agriculture Council of the Confederation of Indian Industries. He also serves as Director of Surya Nepal Private Limited. He has been Executive Director of ITC Hotels Ltd since 1984 and has been Director of ITC Ltd since 1984. He has been a Director at ITC Foods Limited since 1984. Mr. Deveshwar serves as Non Executive Director of HT Media Ltd. He serves as Director of Woodlands Hospital & Medical Research Centre Limited, Surya Tobacco Co. (P) Limited; Confederation of Indian Industry, and West Bengal Industrial Development Corporation Limited. He was Member on the Boards of Indian Airlines (India's domestic carrier), International Airports Authority of India, Airports Authority of India, National Aviation Company of India Limited and Air Mauritius Ltd. He served as Director of International Travel House Limited until May 5, 2006. Mr. Deveshwar serves on the Executive Committees of some of India's premier trade and industry bodies. He is Tollygunge Club Limited General Committee Member. The Government of India has nominated him the Chairman of the Society and Board of Governors of the Indian Institute of Management, Kolkata. Mr. Deveshwar is a Member of Governing Board at Indian School of Business. He has also been honoured with the 'Manager Entrepreneur of the Year Award 2001' by Ernst & Young. Mr. Deveshwar has been honoured with several recognitions within India, including the Honorary Fellowship of the All India Management Association, the Distinguished Alumni Award of the Indian Institute of Technology, Delhi, the 'Meridien Hotelier of the Year' Award and the Marketing Man of the Year from A&M, the country's leading marketing publication. Mr. Deveshwar holds B.Tech in Mech. engineering from Indian Institute of Technology (IIT), Delhi.
Read Full Background
CORPORATE HEADQUARTERS*
27175 Energy Way Novi, Michigan 48377 United States Phone: 248-946-3000 Fax: --
ANNUAL COMPENSATION*
Salary Bonus Total Annual Compensation 24,000,000 45,600,000 69,600,000
STOCK OPTIONS*
All Other Compensation 3,887,000
BOARD OF DIRECTORS MEMBERSHIPS*
Non Executive Director HT Media Ltd Former Chairman and Managing Director National Aviation Company of India Limited Former Director International Travel House 1984-Present Executive Chairman, Chief Executive Officer, Chairman of Nominations Committee, Chairman of Sustainability Committee, Chairman of Corporate Management Committee and Chairman of ITC Hotels Limited ITC Ltd. 1984-Present Executive Chairman, Chairman of Nominations Committee, Chairman of Corporate Management Committee and Chairman of ITC Ltd ITC Hotels Ltd. 1984-Present Chairman and Chief Executive
TOTAL COMPENSATION*
Total Annual Cash Compensation Total Short Term Compensation Other Long Term Compensation Total Calcula 69,600,00 0 69,600,00 0 3,887,000
Also refer the website for ITC Board of Directors details http://www.itcportal.com/about-itc/itc-leadership/board-of-directors.aspx
