MUMBAI: Larsen & Toubro has rejigged board roles by giving additional responsibility of corporate affairs to managing director SN Subrahmanyan and making hydrocarbon business head Subramanian Sarma responsible for the power business as well, as the director representing both roles is due to retire on Tuesday, according to company sources.
Shailendra Roy, senior executive vice-president and director for power and corporate affairs, will be superannuated after eight years on the board of the $21-billion conglomerate.
L&T also appointed Derek M Shah the executive vice-president and head of the independent power company, said an internal circular that ET has a copy of. Shah will also be chairing boards of the two joint ventures of L&T with
Mitsubishi Hitachi Power Systems and
Mitsubishi Electric Corporation. Prior to this, he was executive vice-president and head of the coal power plant business of the power IC.
"As a policy, we do not comment on such queries. We will duly communicate decisions, if any, through authorised channels," L&T said in a response to an email equery from ET.
Roy is believed to be in talks with the government for an advisory role.
When ET reached out to Roy, he declined to comment, but added "I will be doing something where I can use my decades of experience for the nation."