Infrastructure major L&T has decided to elevate to its board of directors its senior vice president SN Subrahmanyan, who heads its indebuilding & factory construction as well as infrastructure companies.
His elevation from July 1, which has been approved by the L&T board, will follow the retirement of whole-time director and president construction KV Rangaswami in June.
Apart from chairman and managing director AM Naik, L&T has eight whole-time directors — JP Nayak, YM Deosthalee (CFO), K Venkataramanan, MV Kotwal, KV Rangaswami, VK Magapu and Ravi Uppal.
At 51, Subrahmanyan, when inducted, will be the youngest whole-time director of L&T.
With most of its directors set to retire over the next two years, L&T needs to locate a successor to Naik by April 2012.
L&T reorganised its business into nine ‘independent companies’ last January. Subrahmanyan heads two of those independent companies, and is the only one to head more than one company within the group.
In a statement, the company described the induction of Subrahmanyan into the board of directorsas “part of L&T’s succession plan”.
Subrahmanyan, a civil engineer and a post graduate in business management, joined L&T in 1984 as project planning engineer and quickly rose through the ranks. He is credited with securing and executing construction contracts for international airports at Mumbai, Delhi, Hyderabad and Bangalore.