Larsen and Toubro's senior vice-president, finance, R Shankar Raman, is the frontrunner in the race of chief financial officer after incumbent YM Deosthalee's tenure ends in a few weeks, sources close to the development told ET.
Raman's appointment would be a part of a wider change in the company's top management as most top executives have either recently retired or would be retiring soon. L&T is also looking for a successor to Chairman and Managing Director, AM Naik, who retires in September next year. The succession plan is tracked globally as the infrastructure behemoth is a sector leader and has 6.60% weightage in Sensex. The $11.7-billion conglomerate is likely to take up the proposal to induct Shankar Raman on its board of directors in its meeting soon. "My term comes to an end in September so I will exit sometime after the listing of L&T Finance," Deosthalee told ET. He declined to comment on the appointment of Shankar Raman, saying "something will be announced shortly."
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