Mr. A.M Naik is currently working as the Group Chairman of Larsen & Toubro Limited Mr. A.M Naik has been associated with Larsen & Toubro Limited for over five decades. During his tenure as Executive Chairman he played a key role in the Company’s rise to its pre-eminent position, and its presence overseas, boosting employee morale and focusing on delivering superior value to stakeholders.
After his superannuation as Executive Chairman, Mr. Naik has been guiding the
Executive Management ensuing smooth transition as Non-Executive Chairman since October 1, 2017.
Mr. A.M Naik, currently aged 78 years, was appointed as a Non-Executive Chairman of the Company with effect from October 1, 2017, after his superannuation as Executive Chairman of the Company. The shareholders in their meeting held on August 26, 2018 had approved appointment and continuation of Mr. Naik as NonExecutive Chairman in accordance applicable regulations.
- Date of Birth: June 9, 1942
- Date of Appointment on the Board: November 23, 1989
- Qualifications: B.E (Mech.)
The Board of Directors at its meeting held on June 5, 2020 re-appointed Mr. A.M Naik as Non-Executive Chairman of the Company for a further period of 3 years with effect from October 1, 2020 and upto September 30, 2023.
Mr. A.M. Naik is strongly identified with the growth of L&T and its contribution to strategic sectors of Defence, Nuclear Power, Space Research and Infrastructure. Mr. Naik has been awarded four doctorates and numerous awards from institutions and industry. He has also served as the Chairman of IIM, Ahmedabad.
A M Naik Salary and Net Worth
Mr. A. M. Naik mirrors the values of the organisation he heads – professionalism, entrepreneurship and a passionate commitment to advancing the interests of all stakeholders.
- Salary Per Year: Rs 6.2 Cr
- No. of Shares held in L&T: 4,24,958
Under his leadership, L&T overcame multiple challenges and emerged stronger with a sharper focus on profitable growth. Media surveys and peer group assessments rank Mr. Naik as among the world’s best performing business leaders.
Best performing business leaders
Joining the Company as a Junior Engineer in 1965, Mr. Naik rapidly rose to positions of increasing responsibility as he moved from General Manager to Managing Director and CEO, leading to his appointment as Chairman and Managing Director on December 29, 2003. Mr. Naik was the Group Executive Chairman of L&T from 2012 to 2017. In October 2017, he stepped aside from executive responsibilities, and was appointed Group Chairman.
In pursuit of the mission to transform L&T into a world-class conglomerate, Mr. Naik led a transformational process that boosted shareholder value. His leadership has seen a remarkable increase across all parameters of business performance – market capitalization, consolidated turnover and net worth. He also spearheaded the re-structuring of the conglomerate to facilitate aggressive growth across a large revenue base.
Decades ago, Mr. Naik kick-started the process of indigenising the manufacture of critical equipment for the defence sector and process industries. His efforts led to L&T assuming leadership position in the design, development and manufacture of missiles and weapon systems and forged a vibrant relationship with national bodies for defence research & development and space research.
Mr Naik infused a global perspective to L&T’s operations. This involved revamping mindsets and ensuring that virtually every critical activity is benchmarked against global standards.
Other landmark achievements that have yielded significant value for the Company and its stakeholders include the de-merger of the cement business. He conceptualized the proposal for the L&T Employees’ Trust which has ringfenced L&T, enabling the Company to retain its unique character and strengthen the employees’ sense of belonging.
Mr Naik’s emphasis on HR and the nurturing of human capital triggered major initiatives to attract, retain and groom talent. He has also been principally responsible for the use of IT as a major enabler across L&T’s businesses.
A concern for social uplift complements Mr. Naik’s keen business interests. Mr. Naik was instrumental in setting up the Larsen & Toubro Public Charitable Trust which is engaged in a wide spectrum of community development initiatives including skill training at several locations around the country.
In November 2018, the Government of India appointed Mr. Naik Chairman of the National Skill Development Corporation (NSDC) – the apex-level body that charts the course for skill training of India’s youth. The appointment is recognition by the highest quarters of L&T’s role in skill training, which has been a lifelong passion for Mr. Naik.
In his personal capacity, Mr. Naik remains deeply committed to the community. He has pledged 75% of his wealth to social causes in the sectors of healthcare, education and skill development. A robust mechanism which he put in place ensures that every philanthropic initiative is continuously monitored and achieves stated targets.
Mr. Naik is the Honorary Consul General for Denmark. He was conferred the Danish Knighthood by Her Majesty Queen Margrethe in 2008 and a further honour, the Order of the Dannebrog – Knight First Class in 2015.
Directorships held in other public companies
The following are the List of companies
- Larsen & Toubro Infotech Limited
- L&T Technology Services Limited
- L&T Construction Equipment Limited
- L&T Welfare Company Limited
- L&T Employees Welfare Foundation Private Limited
- Mindtree Limited
- National Skill Development Council
Industry & Academia
List of Positions
- The Government of India appointed Mr. Naik Chairman of the National Skill Development Corporation (NSDC) in November 2018.
- Helmed the Indian Institute of Management – Ahmedabad (IIM-A) as Chairman of the Board of Governors from 2012 to 2016
- Member of the Governing Body of the Charutar Vidyamandal University, Gujarat
- Appointed Co-leader by the Ministry of Commerce and Industry, Government of India of the India-Malaysia CEOs Forum
- Was senior member of the Confederation of Indian Industry (CII) National Council.
- Led Indian industry’s delegation to the 17th Congress of World Energy Council at Houston, 1998
- Ex-Member of the Board of Trade, Ministry of Commerce, Government of India, Fellow of the Indian National Academy of Engineers (INAE)
- Participated in the 6th India-EU Business Summit in New Delhi in 2005
- Was Co-Chairman of the Indo-Russia CEO Forum and active member Indo-Japan Business Leadership Forum
Awards & Recognition
List of awards and Recognition
- Padma Vibhushan (2019). Mr. Naik is one of the very few professionals in the field of industry to receive this high national honour. He had been awarded the Padma Bhushan and the Gujarat Garima – Pride of Gujarat in 2009.
- Mr. Naik is a Padma Bhushan Awardee (2009) and recipient of the Gujarat Garima (Pride of Gujarat – 2009) Award.
- BMA Lifetime Achievement Award from Bombay Management Association – 2018
- Lifetime Achievement Award from Business Today – 2018
- Ranked among the 50 Best CEOs ever by news magazine Outlook – 2017
- Conferred D.Litt – Doctor of Letters from Veer Narmad University of South Gujarat – 2016
- Ranked ‘Businessman of the Year’ by Business India – 2014
- 32nd Best Performing CEO in the world – Harvard Business Review – 2013. Ranked 4th in the industrial sector.
- Rated among the most influential personalities in the Infrastructure segment – Construction Week – 2012
- Named among Economic Times ‘Most Powerful CEOs’ – 2012
- CNBC TV18 ‘Infrastructure Leader of the Year’ Award – 2012
- Rated one of the top two of India’s Best CEOs by Business Today, INSEAD and Harvard Business Review – 2012
- Conferred ‘Doctorates’ by Sardar Patel University – 2011 and by Gujarat Technological University – 2013
- Ranked ‘Best CEO’ in Industrials segment in Asia by Institutional Investor – 2011
- ‘CNBC Asia – Outstanding Business Leader’ Award – 2010.
- Awarded Asia Business Leader Award for 2010 by CNBC Asia – 2010
- ‘Special Award for Business Leader of the Year – Building India by NDTV – 2010
- Bharat Shiromani Award for his outstanding contribution to Indian industry 2009
- ‘Business Leader of the Year’ Award – The Economic Times – 2009