L&T has finally laid to rest rumours and market speculation. Chairman AM Naik will continue as executive chairman for the next five years and wholetime director K Venkataramanan will don the robes of managing director and chief executive officer, reports Swati Khandelwal Jain.
It has been a long innings for AM Naik but it's far from over. Naik who was set to retire in September this year, will now serve as executive chairman for another five years.
Why?
Naik says he is continuing for a year or two more is only because the new team which has to be established which he is almost certain will be for a much longer duration will be almost ready.
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