L&T appoints Venkataraman as CEO & MD; Naik to remain Chairman

March 09, 2012 11:26

In a long-awaited top management succession planning exercise, corporate giant Larsen and Toubro today appointed K Venkataraman as its CEO and Managing Director, while its current chief A M Naik would remain
Executive Chairman for the next five years.

Naik currently holds the position of Chairman and MD at the group, a major player in engineering, manufacturing,
construction and a host of other businesses including technology and financial services.

The L&T's board of directors has decided to bifurcate the roles of Chairman and Managing Director in a major top management rejig, which would become effective from April 1.

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