Naik hinted that the company might remove MD & CEO position and have an Executive Group Chairman instead.
Looking to address the increasing menace of insider trading activities, market regulator Sebi today set up a 16-member committee to suggest new rules, which will replace nearly two-decade old set of norms.
Larsen and Toubro Managing Director and CEO K Venkataramanan has sold another 2,400 shares of the infrastructure major for about Rs 40.38 lakh, days after offloading over 2,000 shares of the company.
Larsen and Toubro's Managing Director and CEO K Venkataramanan has sold 2,000 shares of the infrastructure major for about Rs 33.48 lakh.
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.