BoD of Larsen & Toubro on April 7, 2017 elevated SN Subrahmanyan as CEO and MD from the post of Deputy MD and President of the company.
Anil Manibhai Naik was appointed the non-executive chairman w.e.f Oct 1, 2017 for 3 years.
Subrahmanyan will take charge as CEO on July 1, 2017.
Naik, or AMN as he is popularly called, had given himself five-year extension in 2012 to restructure the complex businesses, focus on core business, exit non-core businesses and find his successor.
His current term as group executive chairman ends on September 30, 2017.
Naik was asked by BOD to provide advice, guidance and mentorship to the company’s executive management in the capacity of non-executive chairman, according to a company statement.
Naik has acceded to the Board’s request after working with L&T for over 52 years.
L&T: Know More- Headquarters: Mumbai
- Key Subsidiaries: Larsen & Toubro Infotech, L & T Mutual Fund
- Founders: Søren Kristian Toubro, Henning Holck-Larsen
