L&T Chairman S N Subrahmanyan's controversial suggestion for employees to work 90 hours a week and skip Sundays has drawn strong criticism, with Deepika Padukone expressing her shock at the remarks.
L&T had recognised the the importance of digitalisation in 2016 and currently it leverages a vast array of technologies across its various verticals, Subrahmanyan said as part of his first speech as the company's new CMD
LTI Mindtree Annual General Meeting & Post Media Briefing for LTIM and LTTS by S.N. Subrahmanyan, Chairman and MD.
Naik, 81, will now be chairman of IT companies and the employees trust along with the focus on scaling up the philanthropic initiatives that he has been undertaking for the past few years, L&T said in a statement.
L&T Realty and CLINT have inked a pact to develop close to 6 million square feet (0.56 million square metres) of prime office spaces across Bengaluru, Chennai and Mumbai in India.
Subrahmanyan takes over as the new Director from Shailesh Haribhakti who served as the Chairperson on the Board of LTFH from June 1, 2017.
S N Subrahmanyan, CEO and Managing Director at L&T, is an eminent engineer who has spearheaded the infrastructure business of L&T for several years making it the country’s largest construction organisation and 14th in the world.
Currently, its 44 employees in the UK and India deliver integrated marine automation solutions for navies, commercial vessels and large yachts.
74-year-old Naik, who has been with Larsen and Toubro for 52 years, including about 18 years as its head after rising through ranks, said he knows everything "on the pulse" at L&T and things might not be as easy for his successor but he will ensure that the company remains in strong hands.
The successor of the diversified Larsen & Toubro's Group Executive Chairman A M Naik is expected to be announced by September 2017, and by all indications, the current Deputy MD and President S N Subrahmanyan is the front-runner.
The Power Transmission & Distribution Business of L&T Construction has won orders worth Rs. 1563 crores in both the international and domestic markets in July & August 2015.
Commenting on the contract, Member of the L&T Board and Senior EVP, Infrastructure and Construction S N Subrahmanyan said: "This order augers well for L&T's business expansion plans in the infrastructure space in the GCC markets.