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 'e-
Choupal' 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 e-
commerce 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 'un-
evolved' 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 e-
Choupal.

• 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 Total Annual Compensation This person is connected to 30

board members in 4 different
62 69,600,000 INR organizations across 7 different
As of Fiscal Year 2010 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* ANNUAL COMPENSATION*
27175 Energy Way Salary 24,000,000
Novi, Michigan 48377
Bonus 45,600,000
United States Total Annual Compensation 69,600,000

Phone: 248-946-3000
STOCK OPTIONS*
Fax: --
All Other Compensation 3,887,000
BOARD OF DIRECTORS
MEMBERSHIPS* TOTAL COMPENSATION*
Non Executive Director Total Annual Cash 69,600,00
Compensation 0
HT Media Ltd
Total Short Term 69,600,00
Former Chairman and Managing Compensation 0
Director
Other Long Term
3,887,000
National Aviation Company of India Compensation
Limited
Total Calcula
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

Also refer the website for ITC Board of Directors details
http://www.itcportal.com/about-itc/itc-leadership/board-of-directors.aspx