1. Subramanian Sarma Takes Over as CEO & MD of L&T Hydrocarbon

Subramanian Sarma Takes Over as CEO & MD of L&T Hydrocarbon

Subramanian Sarma has taken over as CEO Managing Director of LT Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen Toubro (LT).

By: | Published: August 20, 2015 8:10 AM

Subramanian Sarma has taken over as CEO Managing Director of LT Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen Toubro (LT). He will be driving the LT Group strategy of expanding its hydrocarbon business across geographies, particularly the Middle East. He has already been appointed to the Board of LT as a Non-Executive Director.

Mr. Sarma will play a key role in adding thrust to LT aspirations to grow the business in domestic and international markets. He will be based in the Middle East to enable close monitoring of key on-going projects and drive new business development.

Mr. Sarma brings with him global experience and competence to drive our hydrocarbon business in India and abroad. With his international experience, he will be at the forefront of leading LT Hydrocarbon in becoming one of the best in class global companies offering comprehensive EPC solutions across the spectrum ndash; upstream, mid downstream and pipelines, said Mr. A.M. Naik, Group Executive Chairman, LT.

I have always believed that LT Hydrocarbon is one of the most respected names in the industry and it will be my endeavor to enlarge its global footprint which will not only strengthen the brand but also make India proud. We will harness the talent and capabilities embedded in our system to ensure an exciting and rewarding future, said Mr. Sarma.

Prior to joining LTHE, Mr. Sarma served as Managing Director of Petrofac – Onshore Engineering Construction – and was responsible for the company onshore EPC projects worldwide. He has over 30 years of experience in the oil gas industry, with the last 25 years being in the Middle East. Having joined Petrofac in 1997, he has handled the complete value chain including business development, process engineering, project management and execution. He is a post graduate in Chemical Engineering from IIT, Bombay.

Background:

LT Hydrocarbon Engineering is a wholly-owned subsidiary of Larsen Toubro. It delivers comprehensive engineering and construction solutions across the spectrum ndash; upstream, mid downstream and pipelines. With a network of international offices and facilities, it caters to clients in the Middle East and North Africa, India, South East Asia, Australia, CIS and the North Sea. LT Hydrocarbon draws on over three decades of experience and expertise of the parent company in the hydrocarbon engineering and construction segment.

Larsen Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 15 billion in revenue. It operates in over 30 countries worldwide. A strong, customerndash;focused approach and the constant quest for top-class quality have enabled LT to attain and sustain leadership in its major lines of business for over seven decades.

  1. H
    Harry Potter
    Sep 3, 2015 at 11:57 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 !!
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