India’s largest engineering and construction company Larsen and Toubro Ltd (L&T) on 9 March 2012 appointed director and board member K. Venkataramanan as the chief executive officer (CEO) and Managing Director of the company.
Venkatramanan, 67, would remain on the position until 2015, as he has been given a three year stint as the CEO and MD of the company. His appointment will come into effect from 1 April 2012.
Venkatramanan would replace company’s present chairman and MD, AM Naik who has been elevated to the position of executive chairman of the company. Naik who took over as CEO and MD of L&T in 1999 has been given a five year extension at the top job. He will be retired in year 2017.
Venkatramanan had joined the company on 12 June 1969 after completing his BTech in chemical engineering from the Indian Institute of Technology, Delhi. He was appointed as whole-time director on 20 May 1995.
The 11.7 billion dollar (58,500 crore) company has split the top job in order to make the functioning at top smooth.
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