Engineering and construction giant Larsen & Toubro (L&T) today said it has inducted its Executive Vice President, Buildings, Material and Metals, MV Satish into the company's board.
"The Board of Directors of Larsen & Toubro has announced the induction of MV Satish into the company's Board," L&T said in a statement.
Satish is currently designated as the Whole-Time Director & Senior Executive Vice President (Buildings, Minerals & Metals) and possesses decades of experience and a proven track record of performance, it added.
The development comes at a time when 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.
Welcoming the induction, L&T Group Executive Chairman A M Naik said Satish's accession to the Board is a reflection of the company's growing thrust on infrastructure development and is in line with its plans for succession and seamless transition of leadership.
A Civil Engineering graduate from Bangalore University, Satish has completed a Senior Executive Programme from the prestigious London Business School.
He joined L&T in 1980 as a junior engineer and is currently heading the Buildings & Factories and Metallurgical & Material Handling businesses of L&T.
He is credited with establishing and expanding L&T's footprint in the Gulf Region and achieving accelerated growth for the company. He was also the Chief Executive of L&T Oman LLC.
The company said under his watch, L&T successfully executed several landmark domestic and international projects viz. Salalah Greenfield Airport Project, Wankhede stadium, Mahatma Mandir, among others.
During his long association with L&T, Satish has headed various portfolios including Head - Buildings and Factories Business, where many projects like IT parks, multi-specialty hospitals, high rise residential projects, including the Statue of Unity, are being executed.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 15 billion in revenue. It operates in over 30 countries.
Naik had recently said that the company is looking to expand its global presence and 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.
