NE BUSINESS BUREAU
MUMBAI, MAY 9
Larsen & Toubro on Thursday promoted two of its senior officials. While Subramanian Sarma who has been Whole-time Director & Senior EVP Energy is elevated as Wholetime Director & President, Energy, R Shankar Raman who has been Senior EVP, Whole-time Director & CFO is elevated as President, Whole-time Director & CFO with immediate effect.
Subramanian Sarma will continue with his current responsibilities towards Hydrocarbon, Power, and Green Mfg. & Development businesses.
A graduate in Chemical Engineering, Sarma completed his master’s from IIT Mumbai. A seasoned professional, he has over 40 years of experience, with 30 years being in the Middle East. During his career span,. Sarma has handled the complete Oil & Gas value chain across various geographies. Prior to joining L&T,. Sarma served as Managing Director of a large EPC company.
Sarma joined the L&T Board in August 2015 and has been leading Hydrocarbon Business since then. Under his leadership, Hydrocarbon Business has emerged as one of the leading EPC Contractor globally, achieving record financial results and also being ranked among the top 3 EPC contractors in the Oil & Gas Sector (Middle East) for four consecutive years.
On this occasion SN Subrahmanyan, Chairman & Managing Director L&T said, “Mr Sarma is credited with changing and reconfiguring L&T’s Hydrocarbon Business by bringing in global best practices in Project Management, Governance Mechanisms, Environment Health & Safety (EHS), HR, and Technology and thereby transforming it into a leading global EPC player.
Sarma said, “I am honored to accept this position. I want to extend my heartfelt gratitude to L&T Board and our CMD for entrusting me with this incredible responsibility. I am truly humbled by your confidence in my leadership abilities, and I am committed to continue this journey of growth and innovation alongside each one of you.”
R Shankar Raman elevated as President, Whole-time Director & CFO
Larsen & Toubro announced that R Shankar Raman who has been Senior EVP, Whole-time Director & CFO is elevated as President, Whole-time Director & CFO with immediate effect.
Shankar Raman joined L&T Group in November 1994 to set up L&T Finance Limited, a wholly owned Subsidiary. He later assumed the role of CFO at L&T and was appointed to the Board in October 2011. As CFO of L&T, he plays a pivotal role in shaping the company’s financial strategy, driving growth initiatives, and ensuring financial sustainability in a dynamic business environment. He is widely respected in the industry for his professionalism, integrity, and dedication to excellence.
With a background in finance and accounting, Raman has a deep understanding of the intricacies of corporate finance, mergers and acquisitions, capital management, and risk assessment. He is known for his strategic vision and ability to navigate complex financial landscapes, contributing significantly to L&T’s growth and success.
R Shankar Raman is a qualified Chartered Accountant and a Cost Accountant. Over the past 40 years, Shankar Raman has worked for leading listed corporates in varied capacities in the field of finance.
On this occasion, S.N. Subrahmanyan, Chairman & Managing Director L&T said, “I would like to express my sincere appreciation towards Mr. R Shankar Raman for his leadership skills and for implementing best financial practices and governance standards within L&T. His strategic initiatives have helped L&T strengthen its financial position, optimize resources, and enhance shareholder value.
Raman said, “I am deeply honoured to accept the appointment as President. I would like to express my sincere gratitude to L&T Board & our CMD for having placed their trust in me to lead in this capacity and work together towards our shared goals and aspirations.”
