ITC chairman ranked 7th best CEO: HBR
New Delhi: Harvard Business Review (HBR) in its January-February 2013 edition has named ITC Ltd chairman YC Deveshwar as the seventh best performing CEO in the world.
In a global study on the 100 best performing global CEOs, seven other Indian business honchos have also marked their presence. The list includes- ONGC former chairman and managing director Subir Raha (ranked 13), RIL chairman and CEO Mukesh Ambani (28), Larsen & Toubro’s A M Naik (32), former Bharat Heavy Electricals CMD A K Puri (38), Bharti Airtel’s Sunil Bharti Mittal (65), Jindal Steel & Power’s Naveen Jindal (87) and former SAIL chief V S Jain (89).
Deveshwar ranks first amongst the Indian CEOs featured in this elite list. The evaluation criteria included how much total shareholder returns had changed over their tenure and the overall increase in market capitalization.
Former Apple chief Steve Jobs, who passed away last year, has topped the list followed by Jeff Bezos of Amazon.com in number two spot and Yun Jong-Yong of Samsung Electronics in the third place. The other two people in the top 5 are Roger Agnelli of Vale and John C Martin of Gilead Sciences.
The 65-year-old joined the Kolkata-based cigarette-to-hotels major joined ITC in 1968 and became its chief executive and chairman in 1996.
During Deveshvar’s tenure ITC’s market value increased by USD 45 billion.
In 2011, he was conferred with the Padma Bhushan by the government of India, honouring his contributions to the nation.