Larsen & Toubro Promotes CFO R Shankar Raman As President

Larsen & Toubro Ltd. (L&T) elevated R. Shankar Raman to the position of president, whole-time director and chief financial officer with immediate effect.

Raman previously served as senior executive vice president, whole-time director and CFO, the Indian engineering and construction giant said in a stock exchange announcement today.

Raman joined L&T Group in November 1994 to set up L&T Finance Ltd., a wholly owned subsidiary of the company. He later assumed the role of CFO at L&T and was appointed to the board in October 2011.

The company said as L&T CFO, Raman plays a pivotal role in shaping the company's financial strategy, driving growth initiatives, and ensuring financial sustainability.

Raman, a chartered accountant and cost accountant, has worked for leading listed corporates in varied capacities in the field of finance over the past four decades, according to the statement.

Another Elevation

L&T also elevated Subramanian Sarma, who has been whole-time director and senior executive vice president of energy business, to the position of whole-time director and president of energy business, with immediate effect.

He will continue with his current responsibilities related to the hydrocarbon, power, and green manufacturing and development businesses, L&T said.

Sarma, a graduate in Chemical Engineering, completed his master’s from IIT Mumbai and he has over 40 years of experience, with 30 years being in the Middle East.

Prior to joining L&T, Sarma served as managing director of a large EPC company, according to the statement.

(Send feedback to editor@cornerofficejournal.com)