Subramanian Sarma Inducted as Executive Director on L&T Board, while S V Desai and T Madhava Das are elevated
Mumbai/IBNS: Subramanian Sarma, CEO and MD of L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen & Toubro (L&T), has been inducted as Executive Director on the latter’s Board.
Prior to this he was a non-executive director on the Board.
The decision was taken by the Board of Directors of L&T at its meeting held on July 11, 2020.
In his new role, Sarma will be designated Whole-Time Director and Senior Executive Vice President (Energy).
Effective August 19, 2020, he will hold Board level responsibility for L&T’s Power business, in addition to his current responsibility in the Hydrocarbon business.
Subramanian Sarma said, “I am looking forward to the challenge of handling an integrated ‘Energy’ portfolio encompassing both hydrocarbon and power.”
Same day, the Board also elevated S V Desai and T Madhava Das to the Board with immediate effect.
Both are members of the company’s apex-level Executive Management Committee.
Desai has been designated Whole-Time Director and Senior Executive Vice President (Civil Infrastructure) and will be responsible for the Heavy Civil Infrastructure and Transportation Infrastructure businesses.
Said Desai, “It is a great honour and I am conscious of the enormous responsibility of leading these businesses at a challenging time in the company’s history.”
T Madhava Das will be designated Whole-Time Director and Senior Executive Vice President (Utilities) and will be responsible for the Power Transmission & Distribution and Water & Effluent Treatment (WET) businesses.
“We [L&T] have taken power and water infrastructure to the hinterland of the country. These two businesses have developed a significant footprint in the GCC, ASEAN and Africa. I look forward to the challenge ahead.”
S N Subrahmanyan, CEO & Managing Director, L&T said, “Internationally, the hydrocarbon and power businesses are generally viewed as a cluster, and L&T will now adopt the same integrated strategy.”
Larsen & Toubro 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.