Change of Guard in L&T [Apr 2012]

The Board of Directors of Larsen & Toubro decided to bifurcate the role of Chairman and Managing Director into two positions. The company has decided to appoint K Venkataramanan as CEO & MD with effect from April 1, 2012 while AM Naik, will continue as Executive Chairman of the Group. Mr. Venkataramanan will be responsible for the businesses of the company whereas Mr. Naik will focus on completing the portfolio restructuring, institutionalising the IC structure, mentoring and developing the leadership team and future leaders to face the global challenges.

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