Building 'future ready' organisation: SNS in first address as L&T chairman

A M Naik stepped down from his non-executive chairman role for the company on 30 September. Naik announced Subrahmanyan as his successor in 2016 and has been mentoring him since

In his first address to employees after taking charge as the chairman and managing director of Larsen & Toubro (L&T), SN Subrahmanyan spoke about boosting the company’s performance, extolled the importance of technology, and asserted that he was building a “future ready” organisation.

In a letter to the employees on Sunday, Subrahmanyan said leading the organisation “will be a collective effort.”

He pointed out that at present, L&T’s order book is at its robust, market cap and share price at their highest. As of June 2023, L&T’s order book stood at Rs 4.12 trillion, its highest ever.

 “We must, however, remain hungry for success. Our focus cannot waver from performance,” Subrahmanyan explained.

 

Bringing the focus to the importance of technology, and the change in the energy ecosystem, Subrahmanyan in his letter said: “We must believe in the power of technology and keep harnessing its potential to keep improving our productivity and efficiency.”

Subrahmanyan also urged the organisation to be future ready, adding: “The future is closer than you think. There are basic and massive changes occurring in the ecosystem, energy change, sustainability as a way of life and digitalisation is impacting every aspect of business. We must be future ready.”

SNS, as Subrahmanyan is popularly known, joined the construction business of L&T in 1984 as a project planning engineer after completing a degree in civil engineering and post-graduation in business management.

A M Naik, stepped down from his non-executive chairman role for the company on September 30. Naik announced Subrahmanyan as his successor in 2016. Going forward, Naik will focus on varied philanthropic initiatives, according to the company’s press note.

Naik, 81, will also be chairman of L&T's IT companies and the employees trust. 

At a ceremony held in Mumbai on Saturday, India Post unveiled a postage stamp, honouring Naik’s contributions.

The cover of Naik’s upcoming biography The Man Who Built Tomorrow, which will be published by Harper Collins, was also unveiled at the event.