Current managing director and chairman A.M. Naikm has agreed to continue as executive chairman for five years, the company said in an announcement.
L&T had identified a need “to develop leaders who will manage the company” as it sought to simplify its portfolio while developing its multinational ambitions.
Naik would continue his work on the company restructuring and establishment of 10 independent companies within the broader group, while Venkataramanan would be responsible for the company’s day-to-day operations.
Venkataramanan
