AM Naik, Chairman Emeritus of the Larsen & Toubro (L&T) group, announced that he is stepping down as non-executive chairman and member of the Board of its IT subsidiary firms, LTIMindtree and L&T Technology Services (LTTS).
As reported by Money Control, the company said in a statement, “Naik’s unparalleled contribution to the Company and recorded that his stewardship led to an upsurge in shareholder value creation.”
“AMN, as he is popularly known, has been the Founder Chairman of the company and the architect of the transformation of LTIMindtree into a sharply focused global conglomerate with dominance in the sectors in which it operates,” the company added.
Speaking on this development, AM Naik said, “It is with immense pride and satisfaction, I reflect on the journey from the initial days of L&T Infotech to the IT services behemoth that LTIMindtree has become today.”
“I feel privileged to have not only led such a great organisation but also laid the foundation for future growth and success”, AM Naik added.
AM Naik further said, “From June 27, 2024, under Mr. Subrahmanyan’s able leadership, I am sure LTIMindtree will continue to grow further and reach new pinnacles of success”.
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