ITC's Deveshwar, the reinventor of a multinational

Under Deveshwar, ITC's revenues have grown ten-fold to Rs 51,582 cr, PBT 33 times to Rs 14,958 cr

On February 5, when Yogesh Chander Deveshwar steps down from his role as chief executive officer, after a stint spanning more than two decades, he would be leavingfor his successor an ITC very different from the one he inherited.

Deveshwar donned the role of ITC's executive chairman in 1996. Since then, the company's revenues have grown ten-fold to Rs 51,582 crore and profit before tax 33 times to Rs 14,958 crore; total shareholder returns have grown at a compounded annual rate of 23.3 per cent. From fewer than a 100 SKUs in 1996, the distribution highway now handles over