A M Naik, the long-serving chairman of the construction conglomerate Larsen & Toubro (L&T) Group, has stepped down from his post. Naik, who has been with L&T for over three decades, has been instrumental in the company’s growth and success. During his tenure, L&T has become one of India’s leading engineering and construction firms. Naik’s resignation comes at a time when the company is undergoing a leadership transition. SN Subrahmanyan, the current CEO and MD of L&T, will take over as chairman of the group. The decision was taken by the board of directors of L&T and is seen as part of the company’s succession planning strategy. Naik will continue to be associated with L&T as the chairman emeritus and advisor to the board. Under Naik’s leadership, L&T has diversified its business and expanded its presence in various sectors. The company has successfully executed several landmark projects in India and abroad. Naik’s contributions to L&T have been widely recognized, and he has received numerous accolades and awards for his leadership and achievements. Naik has also been actively involved in philanthropic activities through the Naik Foundation, which focuses on education, healthcare, and community development. Naik’s resignation marks the end of an era for L&T, but his legacy and contributions will continue to shape the company’s future.
