AM Naik steps down as chairman of LTIMindtree and LTTS

AM Naik decided to step down as Non-Executive Chairman of LTIMindtree and L&T Technology Services (LTTS) at the end of Wednesday’s annual general meeting. The board of directors of the respective companies appointed S N Subrahmanyan as Chairman from June 27.

With a 60-year career, Naik was the founder chairman of L&T’s engineering and service verticals. Speaking on the occasion, Subrahmanyan said, “It is an epochal event. It is a change that happens very rarely. This is something very difficult for us as L&T employees to reckon with. In this business, there is one captain and chairman that we ever know, and Mr Naik was that Chairman for us, and in my mind will continue to be the Chairman forever.”