AM Naik Steps Down As Chairman Of L&T Group

AM Naik, 81, will now be the chairman of the employees trust. He will focus on increasing many philanthropic initiatives that he has been undertaking for the past few years, according to a statement.

AM Naik stepped down as the chairman of L&T Group on Saturday.

He handed over the reins of the $23 billion conglomerate to SN Subrahmanyan at an event in Mumbai.

AM Naik, 81, will now be the chairman of the employees trust. He will focus on increasing many philanthropic initiatives that he has been undertaking for the past few years, according to a statement.