Mr. Chugh was the Chairman of the ITC Group from November 1991 to December 1995. On his retirement he was honored with the title of Chairman Emeritus – ITC.
Prior to joining ITC in 1971, Mr. Chugh – a Mechanical Engineer from Delhi University – worked for 10 years with India’s largest engineering enterprise, the Heavy Engineering Corporation, a public sector organization based in Ranchi. Mr. Chugh achieved valuable experience in heavy industry and large projects.
Mr. Chugh set up the ITC Bhadrachalam Paperboards Limited in the tribal area of Andhra Pradesh. Leading a young team, Mr. Chugh implemented this large project in record time with no cost over-runs. The company has since received numerous awards in recognition of its excellent working and has grown to become India’s largest company. Mr. Chugh has authored Clonal Plantation Technology in Bhadrachalam – this has helped spur the rapid growth of the Indian paper industry. In 1989, Mr. Chugh came back to ITC as Vice Chairman and took over as Chairman in 1991. During his stewardship, ITC became one of the India’s leading private sector corporations in turnover, profit, and market capitalization, the country’s largest exporter and a prestigious Super Star trading house. During Mr. Chugh’s tenure of four years as Chairman, ITC grew more than two fold in turnover and almost four times in profit. For two consecutive years ITC was India’s No.1 Company based on a number of criteria – growth, profit, return to shareholders and market capitalization. In the early days of economic liberalization, Mr. Chugh re-engineered ITC to grow as India’s leading multinational company. He was the first Indian CEO to talk about `Creating India’s Multinationals’ and encouraging global competitiveness.
Mr. Chugh was appointed as a Director on the Central Board of Reserve Bank of India, Shipping Credit and Investment Company of India Ltd., Tourism Finance Corporation of India and National Housing Bank of India and Member of Board of Governors, National Council of Applied Economic Research, IIM Kolkata, Administrative Staff College of India, President AIMA. Mr. Chugh was elected the financial world’s International 1994 CEO of the Year Asia and in 1993 was adjudged amongst the Top 2 Best Indian Chief Executives. He was elected one of five ‘Tobacco Men of the Year’ by the World Tobacco International, USA and the Most Distinguished Alumni of the Delhi College of Engineering.
He is presently Chairman of Gati Ltd, Director of Sandhar Auto Industries, Urban Mass Transit Co., Fozal Small Hydro Power and Spice Telecom and Member of Board of Governors of the Indian Institute of Management, Bangalore and Population Foundation of India.
Mr. Chugh’s current interests are management consulting, renewable energy and education.