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A M Naik formally steps down as L&T s Group Chairman, hands over reins to S N Subrahmanyan

Naik, 81, will now be chairman of IT companies and the employees trust along with the focus on scaling up the philanthropic initiatives that he has been undertaking for the past few years, L&T said in a statement.

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End of an era: AM Naik steps down as L&T Group chairman after 20 years at helm

The octogenarian has handed over the reins of the $23 billion conglomerate to S N Subrahmanyan, who is currently the CEO and managing director of the company.

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Naik to pass on the baton to Subrahmanyan but will still be involved with L&T

Naik will continue to be the chairman of the L&T Employees Trust, which is the single largest shareholder of the company.

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