1. L&T Infotech ropes in ex-Infy honcho as CEO

L&T Infotech ropes in ex-Infy honcho as CEO

L&T Infotech, the IT subsidiary of construction and engineering major Larsen & Toubro (L&T), has roped in the second executive from Infosys...

By: | Bangalore/mumbai | Published: August 12, 2015 12:25 AM

L&T Infotech, the IT subsidiary of construction and engineering major Larsen & Toubro (L&T), has roped in the second executive from Infosys, with the appointment of Sanjay Jalona as CEO and MD. Jalona, who spent the last 15 years with Infosys, was the executive VP and global head of  high-tech manufacturing and engineering services. In May, 2014, L&T Infotech had appointed former Infosys senior vice president Chandrashekar Kakal as chief operating officer.

L&T Group executive chairman AM Naik said, “Our clients are seeking smarter and more intelligent solutions. We believe Sanjay has the ability to solve these challenges and the experience to take L&T Infotech to the next level.”
Jalona will operate out of L&T Infotech’s office in New Jersey. According to the company, his appointment adds thrust to plans to boost growth and presence in the Americas, Europe, GCC countries and the Far East. L&T Infotech has been without a CEO following the departure of chief executives Vivek Chopra and Mukesh Aghi.

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  1. H
    Harry Potter
    Dec 6, 2015 at 6:53 am
    L&T Chairman (aged 73) Mr Naik-s brainchild, LnT Infotech is stunted juvenile. Founded as LnT-IT in late 80s, renamed to LnT Infotech in 1997 claiming to touch $1 billion in revenues since 2010 – still not there. Cognizant founded in 1997 is more than $10 billion in revenues. Sans DNA destruction of work culture and mockery of corporate governance at LnT, LnT Infotech could be what TCS is for TATAgroup companies, a great saviour for old-economy TATA companies. LnT Infotech a proven laggard, in news for failed attempt to bid for Satyam, Patni, Polaris, Hexaware, rumoured sell off to Fujitsu. Perennial entry/exit of lateral CXOs, listing gimmicks – it’s in shambles. Year 1999, Mr Naik appointed CEO of LnT group, Infosys headcount in March 2000 nearly 5k, now nearly 1.7 lakhs and LnT Infotech is nearly 20k. What policy paralysis, RBI rates etc Mr Naik wants to blame for this most dismal performance in IT space? LnT has failed to cut even 1% of IT business pie of $116 billion in India. LnT Infotech in IT space for more than quarter of a century (25 years) and not even $1 billion in revenues, headcount less than 20k! Please GOOGLE – white collar criminal equivalent of rape and murder- “Cl Action Suit Seeks $100 Million for Pregnancy Discrimination, Other Violations”. All and sundry above 60 at L&T Leave Now!!--------------------------------------------What exactly was Dr Aghi's (President USIBC) last date/month as one of the joint CEOs of L&T Infotech (Services Cluster)? How about Dr Aghi’s well studied plans/targets of taking LnT Infotech to $1 billion revenue club by 2013 end and $3 billion in next 2-3 years i.e. 2015-16 as one of the joint CEOs of L&T Infotech (Services Cluster)? As per recent report LnT Infotech is expecting to be in $1 billion (in revenues) club by mid 2016. Should we expect some credibility from business leaders like Dr Aghi. Where he has taken Steria India headcount and revenues as CEO, where he has taken LnT Infotech (services cluster) headcount and revenue as CEO of LnT Infotech (Services Cluster)? His exits from both these firms were quite shrouded, why he did not reach out to media to discuss about his tenure and exit at LnT Infotech and reasons why he failed to achieve the set target? Should we expect some transparency, accountability and credibility from business leaders? What are Dr Aghi’s breath taking achievements as CEO of Steria India and CEO of LnT Infotech (Services Cluster) that have catapulted him to President-USIBC, a very important position with a substantial bearing on India-US trade potential of $500 billion?
    Reply
    1. H
      Harry Potter
      Sep 3, 2015 at 11:54 am
      To quote Mr Naik "there is no bloody owner at L&T". Its not just Mr Naik L&T is personal fiefdom of a old-men club, it is divided between septuagenarians vertical wise. CEO Mr Vekataramanan responsible for Hydrocarbon business and its heavy losses. Mr Masgapu is responsible for stagnating IT business L&T Infotech and L&T Tech services, Mr Deosthali is CEO of L&T Finance holding, Mr MV Kotwal man in charge of L&T's defence forays. All these gentleman are nearly or above 70.-------------------------------------------------------------------------------At LnT, the top-bres (schizophrenic Egyptian Mummies) have displa geriatric trait of biting more than they can chew and digest. Dear Investors/Analysts - Watch Out! LnT top-bres were on selling spree, leading the pack Chairman Mr Naik sold his LnT shares (Rs 1200 apiece) worth 70 crores in 20 days - March 2014. Post Q1-2014 results LnT plunged by 8 %, biggest intraday decline since July 2009. Hydrocarbon subsidiary suffered losses of 900 crores, sans stake at Dhamra Port (2500 crores) LnT would have posted losses. Modi /Market euphoria saved LnT going below Rs 1300 during q2, a striking closed range of 1200 of March 2014. Part stakes at LnT Inra sold to Canadian FII - (2000 crores), expecting VGF (Viability Gap Funding) of 3000 crores Hyderabad Metro project. Stake or post losses, Deep Sea or devil? Post Q2 results LnT share plummeted from high of 1673 to low of 1450 (17 Dec, 2014). Post Q3 results another big intra-day fall of 7.44 percent. No wonder LnT will plummet to 52 week low of 900 post Q4 results? LnT top bres should not be allowed to sell their LnT stock for at least next 8 quarter. Biggest shareholders at LnT are state owned LIC/UTI. To restore Insutional Integrity at LnT, PM Mr Modi should intervene to fix retirement age at LnT to 60, sooner rather than later, ASAP!.Biggest shareholders at LnT are state owned LIC/UTI. PM Mr Modi please fix retirement age at LnT to 60. How come retirement age at LnT is whopping 75? Its SCANDALOUS!! --------------------------------------------Like BCCI, LnT is no less cozy club, an Old-Men club enjoying Fire Proof jobs and stratospheric compensation. Expensive CXO Maha Kumbh Mela at LnT - what is the number of CEOs at LnT and all its subsidiaries (138), their CTC? How far higher, this is to manage LnT group revenues of $14 bln than Mr Sikka (aged 46) of Infosys highest paid professional CEO (Rs 30 cr) in India, entrusted with business worth $ 8 bln in revenues. At LnT, just Chairman Mr Naik (aged 72) and group CEO Mr Vankatramanan are pegged at 21 and 14 crores. Information Age leaders, top-man of TATA group, Infosys, Microsoft are in their 40s, why this super 70s at LnT? Chairman Mr Naik's jaw-dropping musings on succession – QUOTE- You find a man in the world who will kill himself four times a day, has worked for more than a hundred years-- There is no such person.-- None of us here (at senior level) are working for money -UNQUOTE. Please refer ToI article – Vibrant Gujarat summit Day 1: 25 private jets bring high-flyers. Excerpts – Cabinet ministers arrived via scheduled flights -- private jet of AM Naik left immediately after arriving –. Mr Naik should learn to walk the talk if he cannot set example he can follow the one set by Mr Murthy, Mr Murthy worked for a token ry of INR 1 during his second stint at Infosys, very company that he founded. How about donating all his earnings stock and barrel here is one example of not working for money - Vyakarnam Anjenaya Sastry, 71, had joined Infosys in 1990, donated half of his holdings to the Infosys Employee Welfare Trust while leaving the company in 1996. If he had held on to the shares, they would have been worth about Rs 1,850 crore (1% of Infosys). Mr Naik please walk the talk! Mr Naik says that in new economy he would have given a line of successors, okay than what Mr Magapu and Mr Deosthali are doing at L&T Finance and L&T Infotech, L&T Tech services, why not a leader in his/her 40s?-----------------------------------------------------Its a Catch-22 situation young insiders are not good enough for the top jobs at LnT and its subsidiaries, outsiders (laterals) cant with stand Despotic Gritocracy the old-men club. Top-men-eater Egyptian Mummies. Infotech ex-CEO Mr Banerji, two previous joint CEOs Mr Chopra and Dr Aghi – QUIT. Mr Ravi Uppal CEO LnT Power (Mr Naik's potential successor)–QUIT. CEO LnT General Insurance Mr Joydeep Roy – QUIT. CEO LnT MF Mr Sanjay Sinha – QUIT. Old-men club is singing this bad chorus and opera a distorted version remix of Brayan Adams songs - 18 till I die and Summer off 69 - oh ya!. The band joined LnT some time in 60s. This public sponsored deafening cacophony and distortion should be stopped. -----------------------------------------------------Biggest shareholders at LnT are state owned LIC/UTI. To restore Insutional Integrity at LnT, PM Mr Modi should intervene to fix retirement age at L&T to 60 !!
      Reply
      1. H
        Harry Potter
        Sep 8, 2015 at 6:02 pm
        Thanks to Modi-Wave, steepest rise in LnT stock in last 5 years is from Rs 722 (Aug 30, 2013) to Rs 1745 (July 4, 2014) apiece, a big cushion (shock aborver) of nearly Rs 1000 per share. L&T top-bres were on selling spree, leading the pack Chairman Mr Naik sold his L&T shares (Rs 1200 apiece) worth 70 crores in 20 days - March 2014. Post Q1-2014 results L&T plunged by 8 %, biggest intraday decline since July 2009. Post Q2 results L&T share plummeted from high of 1673 to low of 1450 (17 Dec, 2014). Post Q3 - 2014 results another big intra-day fall of 7.44 per cent. Post Q1 – 2015 stumbled by 5 per cent in early hours trade, Q1 profit tanked 27 per cent. Average of lows of last 12 years (Jan to Dec, 2004 till 2012) is Rs 622. Average of highs of last 12 years (Jan to Dec, 2004 till 2012) is Rs 1124. Average of lows of last 12 years (Sep 4 as reference day) is Rs 900. G Average of above three numbers is Rs 882 apiece. Some inherent malignancies in businesses – Hydrocarbon and Ship Building losses of Rs 900 cr each, Hyderabad Metro cost overruns Rs 4k crores, Rs5k crores stagnating investment in Defence. Aging CXO-MD potion of septuagenarians, leading the pack 72 yrs old Junior Engineer turned Executive Chairman Mr Naik completed 50 yrs. Where should we expect LnT stack post Q2-2015 results, 5 year low of 386? State owned LIC/UTI are biggest stakeholders at LnT. PM Mr Modi, should intervene to fix retirement age at LnT from SCANDALOUS 75 to 60 - ASAP!!--------------------------------------------------------------------------What are codes of conduct and standards of corporate governance, code of ethics? Any CXO/MD level official ever got fired (or behind bars) in last 10 years - What happened in this case - any logical conclusion, any culpability established? Please refer TOI article – "whistleblower was right: CBI". Excerpts – "CBI confirmed slain National Highway project engineer Satyendra Dubey's allegation --illegally sub-contracted the multi-crore works awarded to them in the Golden Quadrilateral Project -- M/s L&T had misrepresented the facts". BS Article – "Rajya Sabha nods for whistle blowers bill" – excerpts – "Prasad r To quote Mr Naik "there is no bloody owner at L&T". Its not just Mr Naik L&T is personal fiefdom of a old-men club, it is divided between septuagenarians vertical wise. CEO Mr Vekataramanan responsible for Hydrocarbon business and its heavy losses. Mr Masgapu is responsible for stagnating IT business L&T Infotech and L&T Tech services, Mr Deosthali is CEO of L&T Finance holding, Mr MV Kotwal man in charge of L&T's defence forays. All these gentleman are nearly or above 70.---------------------------------------------------------------------------------------------------------------------At LnT, the top-bres (schizophrenic Egyptian Mummies) have displa geriatric trait of biting more than they can chew and digest. Dear Investors/Analysts - Watch Out! LnT top-bres were on selling spree, leading the pack Chairman Mr Naik sold his LnT shares (Rs 1200 apiece) worth 70 crores in 20 days - March 2014. Post Q1-2014 results LnT plunged by 8 %, biggest intraday decline since July 2009. Hydrocarbon subsidiary suffered losses of 900 crores, sans stake at Dhamra Port (2500 crores) LnT would have posted losses. Modi /Market euphoria saved LnT going below Rs 1300 during q2, a striking closed range of 1200 of March 2014. Part stakes at LnT Inra sold to Canadian FII - (2000 crores), expecting VGF (Viability Gap Funding) of 3000 crores Hyderabad Metro project. Stake or post losses, Deep Sea or devil? Post Q2 results LnT share plummeted from high of 1673 to low of 1450 (17 Dec, 2014). Post Q3 results another big intra-day fall of 7.44 percent. LnT top bres should not be allowed to sell their LnT stock for at least next 8 quarter. -------------------------------------------------------------------------Thanks to Modi-Wave, steepest rise in LnT stock in last 5 years is from Rs 722 (Aug 30, 2013) to Rs 1745 (July 4, 2014) apiece, a big cushion (shock aborver) of nearly Rs 1000 per share. L&T top-bres were on selling spree, leading the pack Chairman Mr Naik sold his L&T shares (Rs 1200 apiece) worth 70 crores in 20 days - March 2014. Post Q1-2014 results L&T plunged by 8 %, biggest intraday decline since July 2009. Post Q2 results L&T share plummeted from high of 1673 to low of 1450 (17 Dec, 2014). Post Q3 - 2014 results another big intra-day fall of 7.44 per cent. Post Q1 – 2015 stumbled by 5 per cent in early hours trade, Q1 profit tanked 27 per cent. Average of lows of last 12 years (Jan to Dec, 2004 till 2012) is Rs 622. Average of highs of last 12 years (Jan to Dec, 2004 till 2012) is Rs 1124. Average of lows of last 12 years (Sep 4 as reference day) is Rs 900. G Average of above three numbers is Rs 882 apiece. Some inherent malignancies in businesses – Hydrocarbon and Ship Building losses of Rs 900 cr each, Hyderabad Metro cost overruns Rs 4k crores, Rs5k crores stagnating investment in Defence. Aging CXO-MD potion of septuagenarians, leading the pack 72 yrs old Junior Engineer turned Executive Chairman Mr Naik completed 50 yrs. Where should we expect LnT stack post Q2-2015 results, 5 year low of 386? State owned LIC/UTI are biggest stakeholders at LnT. PM Mr Modi, should intervene to fix retirement age at LnT from SCANDALOUS 75 to 60 - ASAP!!--------------------------------------------Biggest shareholders at LnT are state owned LIC/UTI. To restore Insutional Integrity at LnT, PM Mr Modi should intervene to fix retirement age at LnT to 60, sooner rather than later, ASAP!.Biggest shareholders at LnT are state owned LIC/UTI. PM Mr Modi please fix retirement age at LnT to 60. How come retirement age at LnT is whopping 75? Its SCANDALOUS!! ------------------------------------------------------------------------------------Like BCCI, LnT is no less cozy club, an Old-Men club enjoying Fire Proof jobs and stratospheric compensation. Expensive CXO Maha Kumbh Mela at LnT - what is the number of CEOs at LnT and all its subsidiaries (138), their CTC? How far higher, this is to manage LnT group revenues of $14 bln than Mr Sikka (aged 46) of Infosys highest paid professional CEO (Rs 30 cr) in India, entrusted with business worth $ 8 bln in revenues. At LnT, just Chairman Mr Naik (aged 72) and group CEO Mr Vankatramanan are pegged at 21 and 14 crores. Information Age leaders, top-man of TATA group, Infosys, Microsoft are in their 40s, why this super 70s at LnT? Chairman Mr Naik's jaw-dropping musings on succession – QUOTE- You find a man in the world who will kill himself four times a day, has worked for more than a hundred years-- There is no such person.-- None of us here (at senior level) are working for money -UNQUOTE. Please refer ToI article – Vibrant Gujarat summit Day 1: 25 private jets bring high-flyers. Excerpts – Cabinet ministers arrived via scheduled flights -- private jet of AM Naik left immediately after arriving –. Mr Naik should learn to walk the talk if he cannot set example he can follow the one set by Mr Murthy, Mr Murthy worked for a token ry of INR 1 during his second stint at Infosys, very company that he founded. How about donating all his earnings stock and barrel here is one example of not working for money - Vyakarnam Anjenaya Sastry, 71, had joined Infosys in 1990, donated half of his holdings to the Infosys Employee Welfare Trust while leaving the company in 1996. If he had held on to the shares, they would have been worth about Rs 1,850 crore (1% of Infosys). Mr Naik please walk the talk! Mr Naik says that in new economy he would have given a line of successors, okay than what Mr Magapu and Mr Deosthali are doing at L&T Finance and L&T Infotech, L&T Tech services, why not a leader in his/her 40s?---------------------------Its a Catch-22 situation young insiders are not good enough for the top jobs at LnT and its subsidiaries, outsiders (laterals) cant with stand Despotic Gritocracy the old-men club. Top-men-eater Egyptian Mummies. Infotech ex-CEO Mr Banerji, two current joint CEOs Mr Chopra and Dr Aghi – QUIT. Mr Ravi Uppal CEO LnT Power (Mr Naik's potential successor)–QUIT. CEO LnT General Insurance Mr Joydeep Roy – QUIT. CEO LnT MF Mr Sanjay Sinha – QUIT. Old-men club is singing this bad chorus and opera a distorted version remix of Brayan Adams songs - 18 till I die and Summer off 69 - oh ya!. The band joined LnT some time in 60s. This public sponsored deafening cacophony and distortion should be stopped. -----------------------------------------------------------------------------Biggest shareholders at LnT are state owned LIC/UTI. To restore Insutional Integrity at LnT, PM Mr Modi (first PM, born post independence) should intervene to fix retirement age at LnT to 60 – ASAP!!--------------------------------------------------------------GOI should intervene to stem the rot at LnT. Geriatric top-bres (Egyptian Mummies) at LnT have displa uncanny geriatric knack biting more than they can chew and digest. They have implemented major international hydrocarbon projects at losses; some sort of international CSR. Please allow me to give you all a glimpse (trailer) of a public sponsored circus - Gymnastics by 70 ton Gorillas and not-ready-to-extinct Dinosaurs at LnT. Please refer BS articles - LnT: International orders worth Rs 30,000 cr at risk - and - why analysts are angry with LnT. Some excerpts – 900 crores losses at hydrocarbon, 900 crores losses at Ship Bulding, 16,000 crores of Hydrabad Metro at doldrums. LnT calls hydrocarbon mishap an error of judgment, as it underestimated risks and overestimated its own capability. Some exotic and despotic nonsense by geriatric in chief - why Mr Naik is slogging at 72 to find successor - - you find a man in the world who will kill himself four times a day, has worked for more than a hundred years;-- There is no such person-. On one hand Executive Chairman Mr. Naik and top-bres (Egyptian Mummies) are taking their compensation and retirement to the highest level possible peaks of 75 years and 21 crores, forget about hundreds of crores in stocks, on other hand FIRING young talented employees - Please GOOGLE ---Cl Action Suit Seeks $100 Million for Pregnancy Discrimination, Other Violations-.Can employees, investors, analyst TRUST these dinosaurs? All 60 leave! Got slapped with ban by World Bank – please refer ET article – -World Bank bars LnT for 6 months over forgery-. LIC/UTI GOI should intervene to Save LnT, fix retirement age to 60 NOW!!!!!
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