L&T managing director & CEO retires

Engineering and construction giant Larsen & Toubro (L&T) today said its MD & CEO K Venkataramanan has retired from the company.
"K Venkataramanan, Chief Executive Officer & Managing Director has ceased to be a Director of the company upon his superannuation from the Company's service w.E.F. September 30, 2015," the company said in a regulatory filing.
L&T had last month informed the BSE that the company has elevated S N Subrahmanyan as the Deputy Managing Director and President of the company.
Subrahmanyan, a board member and senior executive vice president - Infrastructure and Construction, will take over the new role on October 1, the company had said.

L&T is aiming to restructure its top management as part of its succession plan as well as making efforts to expand its global presence.
According to the company's website, Subrahmanyan, 54, is a member of the board and senior executive vice president - Infrastructure and Construction and heads L&T Construction, the construction arm of Larsen & Toubro.

A civil engineer with a post-graduate qualification in business management, Subrahmanyan commenced his professional career at L&T in 1984 as a project planning engineer.
Earlier this month, L&T chief A M Naik had said the company is looking at a few more countries, apart from Sri Lanka, to expand its international presence.

Naik had also said that the company will continue to monetise its non-core assets and the firm will keep unlocking value by listing subsidiaries that are unrelated to its core infrastructure business.
L&T businesses include technology, engineering, construction, manufacturing and financial services with over USD 15 billion in revenue. It operates in over 30 countries.