Mumbai, May 10 (IANS) Larsen & Toubro (NS:) (L&T) on Wednesday named SN Subrahmanyan as its new chairman and chief executive while non-executive chairman Anil M. Naik was given chairman emeritus status.
These high-level changes will come into effect on October 1, in line with a decision by L&T’s board of directors meeting on Wednesday.
Subrahmanyan is currently CEO and managing director of the company, while Naik, 80, has been with the group for almost six decades.
Naik, popular as AMN in the business community, is the architect of L&T’s transformation into a highly focused global conglomerate dominating the industries in which it operates.
Under his leadership, L&T’s revenue and market capitalization grew significantly and the Board of Directors recognized his unparalleled contribution to the company’s massive growth despite the challenges.
A civil engineer and management graduate, Subrahmanyan joined construction company L&T in 1984 and has been involved in various infra ventures like new airports, metros, cargo corridors in India and overseas.
Since July 2017, he has served as CEO-cum-MD as the company continued its robust revenue and earnings growth, an official announcement said.
–IANS
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