Subramanian Sarma inducted as Executive Director on L&T board
Jul 13, 2020
Mumbai (Maharashtra) [India], July 13 : Larsen & Toubro said on Monday that its board of directors has decided to induct Subramanian Sarma as an Executive Director besides elevating S V Desai and T Madhava Das to the board.
"The slew of board-level appointments reflects L&T's resolve to chart an aggressive future in its businesses," it said.
Sarma is at present CEO and Managing Director of L&T Hydrocarbon Engineering, a wholly-owned subsidiary of L&T. In his new role, he will be designated Whole-time Director and Senior Executive Vice President (Energy).
From August 19, Sarma will hold board-level responsibility for L&T's Power business in addition to his current responsibility in the hydrocarbon business.
Desai and Das are both members of the company's apex-level executive management committee and have been elevated to the board with immediate effect.
L&T's CEO and Managing Director S N Subrahmanyan said the hydrocarbon and power businesses internationally are generally viewed as a cluster, and L&T will now adopt the same integrated strategy.
"We require a global vision with a strong local orientation. All these colleagues have proven their worth in extremely testing circumstances and are well-equipped to take on the added responsibility of steering the future course of their respective businesses," he said in a statement.
L&T is engaged in technology, engineering, construction, manufacturing and financial services with more than 18 billion dollars in revenue and operations in over 30 countries.
