L&T names S.N. Subrahmanyan as deputy MD and president1 min read . Updated: 22 Sep 2015, 01:47 AM IST
Subrahmanyan, who is currently a senior executive vice president, will take up the new role from 1 October
Mumbai: Larsen and Toubro Ltd (L&T) on Monday appointed S.N. Subrahmanyan as deputy managing director and president, in a move to help the company plan its succession ahead of the retirement of chief executive officer and managing director K. Venkataramanan this month.
Subrahmanyan, who is currently a senior executive vice president, will take up the new role from 1 October.
The announcement makes Subrahmanyan one of the front runners for the post of CEO at the country’s largest engineering and construction company. The company did not say if it would name Subrahmanyan as CEO once Venkatramanan’s term ends.
L&T will put in “a lot of thinking over the succession planning" over the next two-three months, group executive chairman A.M. Naik said on 9 September.
In 2012, L&T had split the role of chairman and managing director, elevating Naik to the executive chairman’s position, while Venkatramanan took over as managing director and CEO. At that time, Naik also received a five-year extension at the top job until the company’s annual general meeting in 2017, when he turns 75.
“The point is, as long as you have an executive chairman, anybody retiring below that can always be covered up by the executive chairman. So we are going to do a lot of thinking over the succession planning over the next two-three months. In three months, we should have some answer," Naik had said.
L&T on Monday also said it has appointed D.K. Sen to its board and designated whole-time director and senior executive vice president—infrastructure. In his new role, Sen will be responsible for multiple businesses including transportation infrastructure, heavy civil infrastructure, special projects and L&T Geo Structure.
The appointments are in line with L&T’s plans for succession and seamless transition of leadership, said Naik in a statement.
Subrahmanyan, who in 1984 started as a project planning engineer at L&T, was appointed on the company’s board in 2011. In his three decades at L&T so far, Subrahmanyan has driven many of the company’s large infrastructure and construction projects including construction of international airports in Bengaluru, Hyderabad, Delhi and Mumbai. He also headed major international projects, including metro systems in Qatar and Saudi Arabia.