Mumbai: Corporate giant Larsen and Toubro on Friday appoints K Venkataraman as its CEO and managing director, whereas its current chief A M Naik would remain executive chairman for the next five years.
Naik presently holds the position of chairman and MD at the group, a foremost player in engineering, manufacturing, construction and a host of other businesses comprising technology and financial services.
The L&T’s board of directors has determined to split the roles of chairman and managing director in a key top management, which would become effective from April 1.
As the latest structure, Venkataraman would assume the position of CEO and MD, whereas Naik would assume the post of executive chairman.
Krishnamurthi Venkataramanan is presently Whole-time director and president (Hydrocarbon) and had tied L&T as a graduate engineer trainee in 1969. He was eminent to L&T Board in the year 1995.
Naik said that “I am pleased that the board has appointed K Venkataraman as CEO & MD. I have full confidence that under Venkataraman’s leadership, L&T will continue its growth path.”