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Larsen and Toubro Ltd has said that its Board of Directors at its meeting have considered and approved the appointment of Mr. A. M. Naik as the Non-Executive Chairman of the Company with effect from October 1, 2017 for a period of three years, immediately upon his retirement as the Executive Chairman on September 30, 2017.
The Board also approved the appointment of Mr. S. N. Subrahmanyan as the Chief Executive Officer & Managing Director with effect from July 1, 2017. Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
L&T addresses critical needs in key sectors - Hydrocarbon, Infrastructure, Power, Process Industries and Defence - for customers in over 30 countries around the world. Meanwhile, shares of the company were trading at Rs 1691 apiece, up 0.27 per cent from the previous close at 09:34 hours on BSE.