L&T inducted Subramanian Sarma as Executive Director on L&T Board, S V Desai & T Madhava Das elevated
The Board of Directors of Larsen & Toubro (L&T) at its meeting held on July 11, 2020, decided to induct Subramanian Sarma, Non-Executive Director on the Board, as an Executive Director and elevate 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.
Subramanian Sarma is at present CEO and MD of L&T Hydrocarbon Engineering, a wholly-owned subsidiary of L&T. In his new role, Sarma will be designated Whole-Time Director & Sr. Executive Vice President (Energy). Effective August 19, 2020, he will hold Board level responsibility for L&T’s Power business, in addition to his current responsibility in the Hydrocarbon business.
S V Desai and T Madhava Das are both members of the Company’s apex-level Executive Management Committee and have been elevated to the Board with immediate effect. Desai has been designated Whole-Time Director & Sr. Executive Vice President (Civil Infrastructure) and will be responsible for the Heavy Civil Infrastructure and Transportation Infrastructure businesses. Madhava Das will be designated Whole-Time Director & Sr. Executive Vice President (Utilities) and will be responsible for the Power Transmission & Distribution and Water & Effluent Treatment (WET) businesses.
Commenting on the board appointments, S N Subrahmanyan, CEO & Managing Director, L&T said, “Internationally, the hydrocarbon and power businesses are generally viewed as a cluster, and L&T will now adopt the same integrated strategy. Sarma’s experience and business insights especially in the intensively competitive Gulf markets are going to add great value to our Energy thrust. Both Desai and Madhava Das bring to the Board their expertise and competence across diverse fields both in the domestic and overseas markets, which will add a cutting edge as we look to take our Company’s business to the next level. 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.”
The new appointments have been made after Shailendra Roy, whole-time director, ceased to be a director of the company on account of his superannuation on July 7.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries worldwide.