‘What I Inherited Is Today 12 Per Cent Of L&T; The Other 88 Per Cent I Have Created'

FOR A.M. NAIK, Larsen & Toubro is his temple and work, indeed, is worship. It’s his relentless passion and commitment to L&T that has led him to spot new opportunities in new businesses. The executive group chairman has transformed L&T from a mere engineering and EPC player to a mammoth conglomerate that’s into defence, water, technology and hydrocarbons, and heavy engineering. In a free-wheeling conversation with Clifford Alvares, Naik dwells at length on what drives him, on the importance of succession planning and the growth of L&T. Edited excerpts:

- Clifford Alvares

Q: You are moving ahead. Is there an unfinished agenda that you are working on? 

I will take up my new role as group chairman. But, group chairman with a difference. I will promote one of the largest projects in future. Then, I am going into succession planning. I have finished mentoring Batch 1, which included seven independent heads and five directors, including my successor S.N. Subrahmanyan. I have now taken on the next batch of 22 people, and they will be ready to take over as heads of various divisions, while some will graduate to become directors at around 2030. Our present CEO is on till 2032, and they will be ready by then.

Q: You have announced succession planning quite early. What is the motive? 

This has been the most classical succession planning ever done. For 12 years, I mentored Subramanyan, and started giving him more and more responsibilities from 2006. Three years ago, I declared that he would succeed me. He is the vice-chairman both for L&T Infotech and L&T Technology Services, and the CEOs report to him.