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