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Harvard Business Review ranks ITC Chairman Y C Deveshwar as the 7th Best Performing CEO in the World.
23 Dec 2012

Mr Y C Deveshwar, Chairman, ITC Limited has been ranked the  7th Best Performing CEO in the World in the global  scorecard on "100 Best Performing CEOs in the World" published by the Harvard  Business Review (HBR) in its January-February 2013 edition. The ITC Chairman  ranks first amongst the Indian CEOs featured in this HBR list. The 2013 global  HBR CEO scorecard looked at how much total shareholder returns had changed over  a time period from the CEO's  1st day in office to 31st August 2012 (adjusting for country and  industry effects), as well as the overall increase in market capitalisation.

Harvard Business Review introduced this evaluation in 2010  and their endeavour was to implement a scorecard that would not only get people  talking about long-term performance but also alter the way that boards,  executives, consultants, and management scholars thought about and assessed  CEOs. 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". Nearly 2,000 CEOs were ranked. The new  version – January-February 2013 has been expanded along two important new  dimensions— making the group of CEOs that were studied truly global, and examining  which CEOs and companies were able to do well not only financially but also in  terms of corporate social performance.

This global recognition acknowledges Mr Deveshwar's vision  and inspiring leadership in transforming ITC into a leading diversified multi-business  Indian conglomerate and in making ITC a global exemplar in sustainable and  inclusive growth contributing significantly to national priorities. He has led  ITC to become a US $ 35 billion market cap Company with a turnover of over $ 7  billion. During his tenure as Chairman over the last 16 years, ITC's  transformational journey has been powered by multiple drivers of growth with  businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and  Packaging, Agri-Business and Information Technology. ITC has consistently  delivered a shareholder return of around 26% in the last 15 years.  ITC is also the only Company in the world to  be Carbon positive (for the last 7 years), water positive (for the last 10 years)  and solid waste recycling positive (for the last 5 years).

In 2011, Deveshwar was conferred the Padma Bhushan, one of the  highest civilian awards in the country, by the Government of India in  recognition of his distinguished service of a high order to the Nation. Amongst  several other awards and recognitions during his distinguished career,  Deveshwar has been honoured with the Global Leadership Award by the US-India  Business Council of the US Chamber of Commerce in 2010, the Business Leader of  the Year Award from All India Management Association in 2012, Business Person  of the Year Award 2006 by the UK Trade & Investment presented by His Royal  Highness Prince Andrew, the Duke of York, and the Sustainability Leadership  Award 2007 conferred at Zurich at the International Sustainability Leadership  Symposium.

For more information please  visit the Harvard Business Review website