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Power People | October 2015

Proven Performer

Engineering giant Larsen & Toubro (L&T) has set its succession plan rolling by elevating SN Subrahmanyan as deputy Managing Director (MD) and President from October 1. The new position makes Subrahmanyan, the second-in-command and also means that L&T will not have an MD & CEO after K Venkataramanan retires at the end of this month. Subrahmanyan, 54, was for long speculated to be the next CEO and is widely considered as among the serious contenders to replace Executive Chairman AM Naik, who is scheduled to retire two years later after a five-year extension in 2012. At its board meeting on Monday, L&T also approved appointment of DK Sen as a whole-time Director and Senior Executive Vice-President (Infrastructure) with effect from October 1.

In a statement, Naik said these appointments were in line with succession plans and seamless transition of leadership. ¨Both Subrahmanyan and Sen have decades of experience in the company and proven track records of performance,¨ he added.

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