ITC Chairman YC Deveshwar passed away this morning, losing the battle with cancer

YC Deveshwar, ITC's longest-serving corporate chief breathed his last Saturday morning. He was 72 and is survived by his wife and son. Deveshwar had over two decades of experience at the helm of ITC as the Executive Chairman and Chief Executive Officer till February 4, 2017.

He stepped down as the Chief Executive of the company in 2017 and started serving as Non-Executive Chariman. Sanjiv Puri is the current CEO and MD of the company

YCD, as he was popularly called, headed the diversification of the conglomerate to an FMCG company.

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He was born on February 4, 1947 in Lahore. Deveshwar studied at IIT, Delhi and went on to pursue a management course at Harvard University.

According to the company's website, Deveshwar joined ITC in 1968 and became the Executive Chairman of the company in the year 1996. He received Padma Bhushan, India's third-highest civilian award in 2011.

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(More details awaited.)