There has been a major change in the leadership of L&T, India’s largest engineering and construction company. AM Naik, who has been managing this company worth lakhs of crores of rupees for decades, has now retired. Now SN Subramanian is going to replace him. With this, a major chapter has been closed not only in L&T but also in the Indian corporate world.
The company has become so big
AM Naik’s full name is Anil Kumar Manibhai Naik. Is. He is counted among the leading entrepreneurs in the history of independent India. 81-year-old Naik has witnessed many spectacular successes in his decades-long career. Under his leadership, L&T established itself as a leading company in the construction and engineering sector across the world. Now that Naik has put an end to his career, L&T’s business empire has reached Rs 1,91,300 crore.
6 decades of association with L&T
This is the legacy of AM Naik. The journey also becomes extraordinary because he started from a very ordinary beginning and gradually climbed to great heights. His journey with L&T is not new. He has spent 6 decades of his nearly 8 decades of life with L&T and out of which almost 2 decades have been spent leading the company.
This is how the company progressed
According to the information available on L&T’s website, he started his career with the company as a junior engineer in the year 1965. Gradually he climbed up the ladder from General Manager to Managing Director and Chief Executive Officer. He was made the Chairman and Managing Director of L&T on 29 December 2003. He was the Group Executive Chairman of L&T from 2012 to 2017. In October 2017, he distanced himself from executive responsibilities and was made the Group Chairman.
Now focusing on social work
Now he has said goodbye to active corporate life. Now his focus will be on social welfare works including CSR activities. He will also remain the chairman of the Employees Trust. Now he will focus on taking forward the social initiatives that he has started in the last few years. A few years ago, he started the Naik Charitable Trust to provide education and skills to marginalized people. Similarly, he started Nirali Memorial Medical Trust to provide specialty healthcare facilities at low rates.
Inspirational source of self-reliant India
The biggest credit goes to AM Naik in defense matters. To promote Swadeshi. In this way, he has been a source of inspiration for self-reliant India. Under his leadership, L&T not only entered the defense sector, but today is manufacturing and providing many important equipment to the army. Currently, L&T is a major name in the defense sector from research and development to manufacturing. The company is making many weapons including missiles. Even in the space sector, L&T is a big name. The credit for all this goes to Naik.
The government has honored him many times
Naik’s achievements do not need introduction or recognition. His contribution has been appreciated many times by the government. When the Modi government started the National Skill Development Corporation, Naik was given the responsibility of its chairman. He was the Chairman of NSDC from November 2018 to April 2022. He has been a part of the boards of many leading educational institutions and universities including IIM Ahmedabad.
Due to his contributions, the Gujarat government honored him with the Gujarat Garima Award in 2009. He received the Padma Bhushan award in 2009, while in 2019 he was awarded the Padma Vibhushan.
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