L&T Board inducts Subramanian Sarma as Executive Director, promotes others

Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday said its Board has decided to induct Subramanian Sarma as an Executive Director.

Sarma, a Non-Executive Director on the Board, is CEO and MD of wholly-owned subsidiary L&T Hydrocarbon Engineering.

Besides, L&T has decided to elevate S V Desai and T Madhava Das to the Board.

The slew of Board level appointments reflect L&T's resolve to chart an aggressive future in its businesses, L&T said in a statement.

In his new role, Sarma will be designated as Whole-Time Director & Senior Executive Vice President (Energy).

Effective August 19, he will hold Board-level responsibility for L&T's power business, in addition to his current responsibility in the hydrocarbon business.

The statement said Desai and Das are both members of the company's apex-level Executive Management Committee and have been elevated to the Board with immediate effect.

Desai has been designated as Whole-Time Director & Senior Executive Vice President (Civil Infrastructure) and will be responsible for the heavy civil infrastructure and transportation infrastructure businesses.

Das is designated as Whole-Time Director & Senior Executive Vice President (Utilities) and will be responsible for the Power Transmission & Distribution and Water & Effluent Treatment businesses.

Commenting on the appointments, S N Subrahmanyan, CEO & Managing Director, L&T said, Sarma's experience and business insights especially in the intensively competitive Gulf markets are going to add great value to the company's Energy thrust.

We require a global vision with a strong local orientation. All these colleagues have proven their worth in extremely testing circumstances and are well-equipped to take on the added responsibility of steering the future course of their respective businesses, Subrahmanyan said.

Sarma said L&T's power business has carved a niche for itself as an EPC player backed by strong and indigenous manufacturing capability and he is looking forward to the challenge of handling an integrated Energy' portfolio encompassing both hydrocarbon and power.

Desai, on his new role said,"Given the institution's capabilities and inherent strengths, I am confident that we will do well, and ensure that we realise our true potential.

According to Das, Power & Water Infrastructure businesses have developed a significant footprint in the GCC, ASEAN and Africa and he looks forward to the challenge ahead.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries.