| Log in

Ravi Uppal steps down from L&T board

06 September, 2012

Ravi Uppal is stepping down from the board of India’s largest engineering company Larsen & Toubro (L&T) in a high profile move even as the former India chief of global electrical and automation major ABB was widely tipped to take over as the chief executive of L&T.

Uppal, a whole-time director and president (power) at L&T, has resigned with effect from September 15, 2012, according to a company statement.

AM Naik, the long-serving boss of L&T, had relinquished the role of chief executive some time ago to become an executive chairman while another L&T long-timer K Venkataramanan has been designated as the CEO till 2015.

Bloomberg reported on Aug 25 that Uppal was leaving L&T and might join Cairn India Ltd, citing sources. The CEO’s position is vacant at Vedanta Group-controlled Cairn India after its chief executive Rahul Dhir put down his papers and is due to move on from September 1.

Before taking his position at L&T, Uppal spent over two decades with the ABB Group as president of global markets and member of the ABB Group executive committee, Switzerland. The IIT Delhi-IIM Ahmedabad grad started his career with Bharat Heavy Electricals Ltd.

Uppal’s exit comes amid succession issues at L&T, which has been criticised over the years for its lack of bringing and holding onto younger management talent at the top level. The company’s long-serving boss AM Naik, a septuagenarian, had stepped down from CEO’s position earlier this year but remains an effective chief as the executive chairman.

(Edited by Sanghamitra Mandal)


Leave Your Comment
L&T chief Naik hints company insider to be next chairman

L&T chief Naik hints company insider to be next chairman

Anuradha Verma 1 year ago
The successor to AM Naik, group executive chairman at India’s largest...
News Roundup: CVCI in fray to invest Rs 400Cr Shriram cement unit

News Roundup: CVCI in fray to invest Rs 400Cr Shriram cement unit

TEAM VCC 5 years ago
CVCI In Fray To Invest Rs 400Cr Shriram Cement Unit –  Citi Venture...
L&T names SN Subrahmanyan CEO and MD; Naik to be non-executive chairman

L&T names SN Subrahmanyan CEO and MD; Naik to be non-executive chairman

TEAM VCC 7 months ago
Larsen & Toubro Ltd on Friday named company veteran SN Subrahmanyan its...
No Comments

Ravi Uppal steps down from L&T board

Powered by WordPress.com VIP