A.M. Naik, group executive chairman at L&T said the succession plan was always there and it would be implemented on 1 October 2017. Photo: MintMumbai: India’s largest engineering and construction company Larsen and Toubro Ltd (L&T) will formalise a succession plan by September 2017. In 2012, L&T had split the role of chairman and managing director, elevating Naik as executive chairman, while K. Venkataramanan took over as managing director and CEO. Considering the complexity of the company, Naik said an outside executive may not be able to steer L&T. Subrahmanyan as deputy managing director and president of the company and he is clearly number two in the firm.

Source: Mint May 25, 2016 07:48 UTC