SN Subrahmanyan new CMD of L&T, AM Naik steps down

Larsen & Toubro (L&T), an Indian multinational engineering company, announced that it has appointed S N Subrahmanyan as its new Chairman and Managing Director (CMD), effective October 1, 2023. Subrahmanyan is currently the CEO and MD of L&T. A M Naik, the company’s current Non-Executive Chairman, has decided to step down from his position on September 30, 2023. Naik will be given the role of Chairman Emeritus.

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Naik has served L&T for more than 58 years and is credited with transforming the company into a global conglomerate. He is also credited with helping L&T move into other business areas such as IT and technology services, and financial services.

L&T’s revenue and profit grew by 10% each year-on-year in the fourth quarter of fiscal year 2023. The company’s board of directors on Wednesday recommended a final dividend of ₹24 per equity share, subject to approval of shareholders.

Important takeaways for all competitive exams:

Larsen & Toubro (L&T) CEO: S N Subrahmanyan (Jul 2017–);
Larsen & Toubro (L&T) Headquarters: Mumbai;
Larsen & Toubro (L&T) Founded: 7 February 1946, Mumbai.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.