Engineering and construction conglomerate Larsen and Toubro (L&T) has appointed Krishnamurthi Venkataramanan as its CEO and Managing Director. His appointment follows the decision of the L&T Board of Directors to bifurcate the roles of Chairman and Managing Director in a major top management rejig, which would become effective from 1 April, 2012.

As per the new structure, Mr Venkataramanan would assume the position of Chief Executive Officer and MD, while the current CMD A M Naik would assume the post of Executive Chairman. Mr Naik would continue as Executive Chairman for the next five years. While Mr Venkataramanan would be responsible for the businesses of L&T, Mr Naik would focus on completing the portfolio restructuring, institutionalising the IC (Independent Company) structure, mentoring and developing the leadership team and future leaders, the group said.

Mr Venkataramanan is currently Whole-time Director and President (Hydrocarbon) and had joined L&T as a Graduate Engineer Trainee in 1969. He was elevated to L&T Board in the year 1995.