With reference to the earlier announcement dated October 27, 2010 announcing nomination of Y. M.Deosthalee, Whole-time Director & Chief Financial Officer of the Company as the Chairman & Managing Director (CMD) of L&T Finance Holdings Limited (LTFHL) with effect from the date of listing of LTFHL, Larsen & Toubro Ltd has announced that the Board of Directors of the Company at its meeting held on August 08, 2011, have decided that Mr. Y. M. Deosthalee’s appointment as CMD of LTFHL will be effective from September 06, 2011 consequent upon his retirement from the services of the Company at the close of workings hours of September 05, 2011. He will continue to be the Chief Financial Officer & Whole- time Director till September 05, 2011.
The Board has appointed R. Shankar Raman, Senior Vice President (Finance & Legal), as the Chief Financial Officer of the Company with effect from September 06, 2011.
The Board has also approved his appointment as the Whole-time Director of the Company with effect from October 01, 2011.