Larsen & Tourbo, an Engineering and Construction giant company on Saturday said its board has given a thumbs-up for reappointment of A M Naik as Non-Executive Chairman of the company for a period of three years starting from October 1, 2020.
Naik’s present tenure is arranged to end on 30th September, the amalgam said in a regulatory filing to the Bombay Stock Exchange (BSE).
Also, according to the reports, because of Naik’s leadership and perseverance, L&T overcame multiple challenges and emerged stronger with a sharper emerged stronger with a sharper focus on profitable growth. Media surveys and peer group assessments rank him as among the world’s best performing business leaders, the conglomerate said.
In addition to this news, the company board also gave approval for extending the possession of full-time Director Dip Kishore Sen.
On 5th June, a meeting was held of the Board of Directors and based on the recommendation of the Nomination and Remuneration Committee and in accordance to necessary approvals of the shareholders of the Company, it has been decided for re appointment of Directors, whose current tenures are ending on September 30, 2020,” L&T said.