23 January, 2021

Smoking The Peace Pipe

Yogi Deveshwar, ITC`s new hope to build bridges with BAT

Smoking The Peace Pipe
THE healing touch" is the key phrase in Virginia House corridors today. As predicted in our December 6 issue, Yogesh (Yogi) Deveshwar is chairman designateITC, and BAT Industries has lost on all fronts. It didn't succeed in getting a bifurcation of the top post, nor could it install an outsider as chairman. The imperative, clearly, for both BAT and Deveshwar is to undo the damage done by the long-drawn battle for ITC's control.

To do that, they need to build on each other's trust and work together. Says Deveshwar: "It has been a distracting episode. The sooner we can get away from it, the better. It's time we got down to productive work." Soon after winning the chairmanship, Deveshwar invited the two BAT nominees on the ITC board, Norman Davis and Richard Pillbeam, over to his residence for cocktails.

What started as a duel between BAT and K.L. Chugh, has ended with Deveshwar becoming chairman. After a series of meetings which las-ted 48 hours from December 8-10, the nominations committee and later, the board, voted comprehensively in favour of Deveshwar, much to the...



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