IIM-Kolkata founder KT Chandy dies
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A doyen of Indian management, K. T. Chandy, passed away at his home in Kottayam on May 2. Chandy had been invited by the then chief minister of Bengal, Dr B. C. Roy, to start the first Indian Institute of Management (IIM) in Calcutta in 1961.
He became the founder-director of IIM, Calcutta, which was started with the help of Ford Foundation and in collaboration with the Massachusetts Institute of Technology (MIT).
Born on January 13, 1913, Chandy graduated from Madras Christian College in 1932, and went on to join the London School of Economics for a Masters in law. He studied for Bar-at-law at Middle Temple.
His career in India saw him head various companies.
He became director of Lever Brothers in 1956 and was instrumental in the amalgamation of the three companies of the Lever Brothers, to form Hindustan Lever Ltd. Apart from serving for five years as founder-director of IIM, he has also managed prestigious public sector undertakings.
In 1967, he became the Chairman of the Food Corporation of India.
In mid-1968, he became chairman of Hindustan Steel Ltd, now part of SAIL.
In 1972, he returned to Kerala and took over as Chairman of KSIDC (Kerala State Industries Development Corporation) and continued in that position till 1978.