L&T’s Naik steps down from LTIMindtree, LTTS

Larsen and Toubro chairman emeritus A. M. Naik will step down as chairman of LTIMindtree and L&T Technology Services (LTTS) with effect from Thursday, the companies announced. 

Vice-chairman S. N. Subrahmanyan has been appointed chairman of both companies with immediate effect. 

Subrahmanyan joined the boards of both companies on 10 January 2015. He was appointed vice-chairman of LTTS and L&T Infotech in May 2017. 

Naik, the founder chairman of the company, was the architect of the transformation of LTIMindtree into a global conglomerate with dominance in the sectors in which it operates, the company said. 

Speaking on the development, Naik said, “It is with immense pride and satisfaction, I reflect on the journey from the initial days of L&T Infotech to the IT services behemoth that LTIMindtree has become today. I feel privileged to have not only led such a great organisation but also laid the foundation for future growth and success.”

Commenting on his new role, Subrahmanyan said, “First of all, I would like to acknowledge Naik’s efforts towards building this IT giant within the L&T Group. What he has done is humongous and simply outstanding. I would like to express my sincere gratitude to him and the Board for reposing trust in me and appointing me as the chairman. I would humbly like to take up this responsibility and take LTIMindtree’ legacy of trust, customer focus, timely delivery, quality, people centricity, and professionalism forward”.

Part of the multinational conglomerate L&T, LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies.

On taking charge as LTTS board chairman, Subrahmanyan said, “I would humbly like to take up this responsibility and take forward LTTS’ legacy of constant innovation and technology leadership. LTTS lives and breathes engineering and that is what we will continue to do”.

Speaking on this development,. Naik said, “LTTS is spearheading several cutting-edge technology tracks across verticals and industries, driving sustainable customer business successes. It is my firm belief that LTTS will continue to scale greater heights under the chairmanship of Mr. Subrahmanyan, to whom I am handing over the responsibility”. 

LTTS board thanked Naik’s stellar contribution to the company, his technology leadership which has facilitated LTTS filing close to 1,300 patents and his unmatched dedication. 

Naik has been constantly focusing on leveraging technology for scaling the future and inspiring new possibilities for LTTS’ customers and towards creating a sustainable world.