The Union Ministry of Human Resources Development has nominated Larsen & Toubro Limited's chairman and managing director AM Naik as the chairman of Indian Institute of Management, Ahmedabad's (IIMA) society and the board of governors for a period of three years. The tenure of the current chairman of IIMA society and the board of governors Vijaypath Singhania ends on March 28, 2012.
"AM Naik will assume charge after March 28, 2012," India's premier business school today said in an official statement.
Apart from AM Naik, the IIM-A board of governors had also short-listed HDFC chairman Deepak Parekh and Dr RA Mashelkar, a national research professor who was a director-general of Council of Scientific and Industrial Research (CSIR), a Bhatnagar Fellow and the president of Global Research Alliance.
All the three are experts in their respective fields and are Padma Bhushan awardees.
A sub-committee consisting of 4-5 members of the board of governors of IIMA was formed to select the chairman for the institute. The committee was headed by Arvind group chairman Sanjay Lalbhai. As per reports, before shortlisting the above mentioned experts, the panel headed by Sanjay Lalbhai had also considered the names of industry stalwarts such as Tata group patriarch Ratan Tata, Anil Ambani, group chairman & CEO, Reliance ADA Group, Sunil Bharti Mittal, chairman and group CEO, Bharti Enterprises and Kumar Mangalam Birla, chairman, Aditya Birla Group.
AM Naik, who hails from Endhal village in south Gujarat and belongs to a family of teachers, is credited to have successfully led L&T through some of its most challenging times and enabled it to emerge stronger each time.
Naik expanded L&T beyond domestic borders and position itself to become a global player.