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A.M. Naik Appointed Non-Executive Chairman of Mindtree
Mr. A.M. Naik, Group Chairman, L&T.
On July 17, 2019, Mindtree appointed L&T Group Chairman Mr. A.M. Naik as the Non-Executive Chairman of the company. In his new role at Mindtree, Mr. Naik will ensure enhanced communication among board members and lead engagements between the board and company management besides strengthening the governance processes. Responding to the news of his appointment, Mr. Naik in a letter to Mindtree employees said that L&T will focus on "continuity" as a key theme in the management transition and continue to run the business of Mindtree independently and grow it further.
He went on to express his admiration for Mindtree, its leadership and journey over the years during which it emerged as one of the standout IT Services firm from India that set global benchmarks in a highly competitive business landscape. Mr. Naik called on Mindtree employees to continue with the same zeal and commit to the same exceptional standards of performance and delivery that set them apart in the first place.
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S.N. Subrahmanyan Delivers Maiden Address at Mindtree AGM
In L&T’s fold, Mindtree will continue its forward march, emphasized Mr. S.N. Subrahmanyan, CEO & MD, L&T.
L&T CEO & MD Mr. S.N. Subrahmanyan delivered his maiden address at Mindtree’s 20th annual general meeting (AGM) in Bengaluru on July 16, 2019. In his speech, Mr. Subrahmanyan assured the company’s shareholders, employees, and clients of L&T’s steadfast commitment to the well-being of Mindtree.
Assuaging any shareholder worries, Mr. Subrahmanyan reiterated L&T’s promise of preserving Mindtree’s unique culture. He said that Mindtree is one of India’s great entrepreneurial success stories and had much in common with L&T, a fiercely independent, well-respected, high-performing professionally managed company.
Alluding to L&T’s employee-centricity, he said that much like Mindtree at L&T people act as prime movers of growth and in L&T’s fold, the company will continue its forward march.
“L&T’s huge network, great client relationships across industry sectors coupled with its experience of managing two very successful IT businesses will add a lot value to Mindtree and its stakeholders,” said Mr. Subrahmanyan.
Ending his remarks by assuring the audience of L&T’s focus and willingness to do “everything possible” to keep the services being rendered to various clients at their best Mr. Subrahmanyan said, “We will strive to provide new age technologies, services, digital and content in an ever more increasing manner to take the organization forward.”
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L&T-NxT Gets Its Digital Hub
The ‘Digital Hub’ was inaugurated by Mr. S.N. Subrahmanyan, CEO & Managing Director, L&T on July 6, 2019.
The space will be both a place of work as well as an enclosure for showcasing the Company’s digital solutions.
On July 6, 2019, a brand new hi-tech office of L&T-NxT was inaugurated on the 4th floor of the CRR Centre at L&T’s Chennai campus at the hands of Mr. S.N. Subrahmanyan, CEO & Managing Director, L&T. Christened ‘Digital Hub’, the office will serve as a place where L&T-NxT staffers will conceptualise, design, and create innovative digital solutions in a collaborative environment. The space will be both a place of work as well as an enclosure for showcasing the Company’s digital solutions. The office has aesthetically designed showcase spaces and demo pods where visitors will see models, artefacts, solutions, and experience geospatial and AR/VR technologies. The workspaces, for a part of the digital team stationed at Chennai are designed around demo pods, amidst many collaborative zones with inspiring names and stirring quotes by visionaries and thought leaders. "Superb, beyond expectations,” said a thoroughly impressed Mr. Subrahmanyan as he took a tour of the place and surveyed the various tools and pieces of technology on display. “In digital, we are far ahead of the competition and L&T-NxT is the opportunity for all of you to do some great, innovative things. For us sky is the limit,” he noted during his interaction with the staff.
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L&T Hydrocarbon Engineering Wins Mega Contract from Saudi Aramco
A shot of the contract signing ceremony.
L&T Hydrocarbon Engineering Limited (LTHE) has been awarded yet another Mega project (valued more than Rs.7,000 crore) in the Marjan Field by Saudi Aramco. An affirmation of LTHE’s commitment to consistent project performance and ability to deliver value, the contract for oil facilities for the Marjan Increment Program consists of four tie-in platforms, one tie platform module, nine production deck modules (wellhead decks), 217km long subsea pipelines across 25 segments, and 145km of subsea cables across 16 segments. Bagged by the consortium of LTHE with EMAS AMC (a Subsea7 company), the scope of the contract also includes the replacement of existing control gears at eight existing SA Offshore platforms and tie-in to existing systems. The win bears testimony to the execution capability of LTHE with excellent safety and quality performance, which was demonstrated repeatedly in the execution of the Hasbah Gas Increment project and other projects in the Kingdom of Saudi Arabia including Marjan, Safaniya, Zulf, and Berri. All the projects were executed through LTHE’s fabrication facilities in the Middle East and India.
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L&T 8th Biggest Indian Company on Forbes’ Global 2000 List
The list also ranked L&T as the 10th biggest company in the world in the construction services segment.
In Forbes’ latest ranking of world’s largest public companies, L&T has emerged as the 8th biggest company from India ahead of public sector giants State Bank of India and NTPC. The annual global ranking also placed L&T as the 10th biggest in the world in the construction services segment.
Of the 61 countries represented, United States topped the list with the largest number of companies at 575 while China and Hong Kong were next with 309, followed by Japan with 223.
From India, total 57 Indian companies made it to the Forbes’ prestigious list.
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L&T Ranked Among Top 10 Employer Brands in India
97% of all Indian job-seekers enquire about the reputation of their potential employer found the Randstad survey.
The 2019 Randstad Employer Brand Research (REBR) survey has placed L&T among the top 10 most attractive employer brands in the country. Ranked 6th overall, L&T is the only firm on the list from the engineering, construction, manufacturing or financial services space to find a place in the top 10. L&T scored high on the counts of its financial health, technological bent and strong reputation among potential employees. According to the survey 97% of all Indians enquire about the reputation of their potential employer and consider things like salary & employee benefits, work-life balance, and job security as major deciding factors when choosing a job. Besides, 96% job-seekers look for alignment of personal values with a company’s culture, noted the survey. It’s becoming an increasingly important consideration for employees when it comes to their job-satisfaction levels. L&T scored well across all these parameters in the survey.
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