AM Naik to Step down from L&T after 58 years of service

Anil Manibhai Naik, the legendary chairman of Larsen & Toubro (L&T), is stepping down as non-executive chairman after 58 years of association with the company. Naik is credited for overseeing the growth of L&T over several decades and stablished as India’s biggest infrastructure firm. He will be redesignated as the chairman emeritus after the end of his tenure on September 30 this calendar.

Naik, who graduated as an engineer from Birla Vishvakarma Mahavidyalaya in Anand, steadily progressed up the ranks after joining L&T as a junior engineer in 1965. He became CEO in 1999 and Group Chairman in July 2017.

L&T’s board has appointed S N Subrahmanyan as chairman and managing director (MD) with effect from October 1. He is currently the chief executive officer (CEO) and MD. Subrahmanyan popularly known as SNS, joined the construction business of L&T in 1984 as a project planning engineer. He has been leading L&T for past six years since July 1, 2017, as CEO and MD.