AM Naik, the non-executive chairman of L&T Technology Services, has announced that he will be stepping down from his position. S N Subrahmanyan, who currently serves as the non-executive vice chairman, will be taking over the leadership role from June 27, 2024.
Naik will be relinquishing his office after the company’s 12th Annual General Meeting on June 26, 2024, as per an exchange filing. The Board of Directors has approved the appointment of Subrahmanyan as the chairman of the company, effective from June 27, 2024. Naik, a veteran of L&T, will be exiting the boards of all L&T Group companies following this transition.
The Board has recognized Naik’s significant contributions to the company, praising his leadership, input, and guidance during his tenure as Chairman. Naik, who is fondly known as AMN, is the founder chairman and has been instrumental in the company’s growth, including the filing of nearly 1300 patents. Subrahmanyan, also known as SNS, joined the LTTS Board in 2015 and was appointed as the vice chairman in 2017. He has played a key role in the company’s growth and expansion of its global customer base.
This leadership change is part of a larger transition within the L&T group. Naik’s decision to step down aligns with a similar move he made at LTIMindtree, where he also served as the non-executive chairman. After the company’s 28th annual general meeting on June 26, 2024, Naik stepped down from that position as well, with Subrahmanyan set to succeed him there too.
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