Misplaced Pages

A. M. Naik
Born	Anil Manibhai Naik (1942-06-09) 9 June 1942 (age 82) Navsari, Province of Bombay, British India, (now Gujarat, India)
Education	B. E. (Mechanical Engineering)
Occupation	Chairman Emeritus of Larsen & Toubro
Spouse	Geeta Naik
Children	2
Awards	Padma Vibhushan (2019) Padma Bhushan (2009)

Anil Manibhai Naik (born 9 June 1942) is an Indian industrialist, philanthropist and the chairman emeritus of Larsen & Toubro, an Indian engineering conglomerate, and a former chairman of the National Skill Development Corporation.

He was awarded the Padma Bhushan, India's 3rd highest civilian award, in 2009. In 2019, he was awarded the Padma Vibhushan, India's 2nd highest civilian award. Naik is also the recipient of the 'Economic Times - Business Leader of the Year Award, for the year 2008.

Early life

Naik is a Gujarati. He was born to a family of teachers in Gujarat, also referred to as Master Kutumb in Gujarati language. His father, who used to teach at Hansraj Morarji Public School in Mumbai, heeded Mahatma Gandhi's call to revitalise India's villages, and decided to return to his native village along with his family. Young Anil had finished five years at his father's school by this time, and the rest of his schooling was obtained from schools in Endhal and the neighbouring village of Kharel. In June 1958, Naik enrolled at V.P. Science College in Vallabh Vidyanagar, where he would prepare for a year for admission to an engineering college.

He graduated with a bachelor's degree in mechanical engineering from Birla Vishvakarma Mahavidyalaya Engineering college in Vallabh Vidyanagar in Gujarat.

After graduation, he went to Mumbai with a note from his father introducing him to Viren J. Shah (another HMPS alumnus) working in Mukand Iron & Steel Works Limited to apply for its engineering programme. Due to his lack of proficiency in English, the personnel manager had asked him to improve his English. So Naik started working on his English skills. In the meantime, he joined Nestor Boilers, which was a Parsi-owned firm. Changes in ownership and management style at Nestor Boilers prompted Naik to turn to L&T.

Career at L&T

On 15 March 1965, Naik joined L&T, as a junior engineer. A rapid rise followed. He was appointed Assistant Manager within three years and 15 days of joining – a record at L&T. He was promoted as General Manager in 1986. He became Member of board of L&T Limited on 23 November 1989. In 1999, he took over as the chief executive officer and managing director. In 2003, he became the chairman of Larsen & Toubro, the first employee in the company's history to be elevated to this post. At the helm, Naik initiated the transformation process that made L&T into a more entrepreneurial organisation with increased emphasis on wealth creation for all stakeholders. In an interview to McKinsey, Naik explained his reasons for the portfolio rationalisation that he undertook. In 2017, he stepped aside from executive responsibilities, and took over as Group Chairman. In May 2023, Naik was appointed the Chairman Emeritus of the company.

Ring fencing L&T

In the late 1980s, L&T encountered a takeover attempt by a large business group (Reliance group) which seized a substantial stake in the company. The management of L&T staunchly resisted these attempts to take over the company, wanting to maintain it as India's premier, indeed only, professionally run conglomerate. The central government, through various agencies, public sector banks, insurance companies, etc., held a large portion of L&T's shareholding. A succession of governments (as many as seven) held office during this period, but L&T's prestige and standing was such that none of them did anything to contravene the wishes of the board of professionals.

Finally, the predatory investor gave up and sought a settlement. In 2002, the predatory group's entire holding was transferred to a different family-owned business house (Birla group). The following year, this shareholding was purchased by an "employee welfare trust" funded and controlled by L&T itself. In this way, the company not only fended off the predator but also fortified its position as a professionally run company by gaining control of a large shareholding. The way in which Naik thwarted the take-over and fortified L&T against such threats has been widely covered in the media.

The matter thus ended in a 'win-win', with all parties concerned being happy with the outcome. S. Gurumurthy, currently on the Board of the Reserve Bank of India described the events as a 'security threat for L&T being converted into a security ring.' The Employee Stock Options which emanated from the successful resolution of the issue gave financial security to a large section of employees, and allowed them to share in the company's growth.

Shaping L&T into a 'Nation Builder'

Naik's stewardship of L&T is characterised by a sharper focus on sectors of national significance - defence, nuclear, aerospace, infrastructure, oil & gas and power. He has been instrumental in imparting a strong, nationalistic orientation to the company's products, offerings and capabilities, giving rise to its description as 'the company that is building 21st Century India'.

He has retired from Larsen & Toubro Limited on 30 September 2023.

Chairman – NSDC

In 2018, the Government of India appointed Naik the chairman of the National Skill Development Corporation – the apex body to promote skilling and part of the Skill India mission of the Prime Minister. Making the announcement, Skill Development and Entrepreneurship Minister Dharmendra Pradhan said under Naik's leadership, the corporation apart from its engagement in executing skilling modules, should also be a think-tank providing direction and necessary guidance for creating a demand-based skilling ecosystem in the country. Naik said NSDC has developed a unique model combining skill development with strong industry partnerships. NSDC, under the ministry, aims to promote skill development by catalysing creation of large, quality and for-profit vocational institutions. The organisation provides funding to build scalable and profitable vocational training initiatives. 

Philanthropy

In August 2016, Naik announced that he would give 75% of his income to charitable causes over his lifetime, setting up the Naik Charitable Trust for education and the Nirali Memorial Medical Trust for healthcare.

Nirali Memorial Medical Trust had entered into an agreement to set up a Cancer Hospital at Navsari which will be operated by Tata Trusts. In January 2019, the governor of India laid the foundation stone for the Cancer hospital in Navsari, Gujarat. The healthcare campus at Navsari will also house a speciality hospital for which the NMMT has tied up with the Apollo Hospitals Group. NMMT also runs Nirali Memorial Radiation Centre in nearby Surat, a multi-disciplinary hospital at Powai in Mumbai and provides modern medical facilities at a hospital at Kharel, Gujarat.

Awards and honours

• Honorary Consul General for Denmark.
• Senior member of the Confederation of Indian Industry.
• Member of the Board of Trade, Ministry of Commerce, Government of India.
• Fellow of the Indian National Academy of Engineers.
• Former Member of the Board of Governors of the Indian Institute of Management, Ahmedabad.
• Nominated as the chairman of the IIMA (IIM Ahmedabad) Society and the Board of Governors, for a period of three years starting 28 March 2012
• Conferred 'Doctor of Letters' (Honoris Causa) by the Sardar Patel University on 15 December 2011
• Conferred Doctor of Philosophy from Gujarat Technological University on 19 January 2013
• Conferred Doctor of Letters from Veer Narmad University of South Gujarat on 26 February 2016
• Conferred Doctor of Science from Maharaja Sayajirao University of Baroda in December 2016
• Ranked India's Most Generous Corporate Professional by Hurun India and Edelgive Foundation - 2021

Personal life

A.M. Naik is married to Geeta Naik. They have two children, The Daughter is based in the USA: And a son, Jignesh, who works for Google moved back to India, and a daughter, Pratiksha, who runs a private medical practice.

Bibliography

'The Nationalist – How A.M. Naik Transformed L&T into a Global Powerhouse', by Minhaz Merchant and published by Harper Collins.

'Strategic Brand Management for B2B Markets: A Road Map for Organizational Transformation', by Sharad Sarin and published by SAGE Publications India Pvt Ltd.

'The Art of Business Leadership : Indian experiences', by S Balasubramanian and published by Response Books.

References

1. ^ "L&T appoints SN Subrahmanyan as MD, Chairman; AM Naik to be Chairman Emeritus". Mint. 10 May 2023. Retrieved 5 October 2023.
2. "Board of directors of L&T: A M Naik". Larsen & Toubro. Archived from the original on 23 January 2019. Retrieved 5 April 2019.
3. "Larsen & Toubro Annual Report 2017-18" (PDF). Larsen & Toubro. Retrieved 5 April 2019.
4. "L&T Executive Chairman AM Naik to take home Rs 32.21 crore leave encashment". Business Today. 23 August 2017. Retrieved 23 August 2017.
5. "Ministry of Skill Development & Entrepreneurship appoints Mr. AM Naik as Chairman of NSDC" (PDF). National Skill Development Corporation. Retrieved 23 August 2019.
6. Nanda, Prashant K. (28 November 2018). "L&T's A.M. Naik appointed NSDC chairman". Mint.
7. ^ "Living life the L&T way" (PDF). Intecc.com. Archived from the original (PDF) on 30 September 2017. Retrieved 23 August 2019.
8. "Padma Awards" (PDF). Ministry of Home Affairs, Government of India. 2015. Archived from the original (PDF) on 19 October 2017. Retrieved 21 July 2015.
9. TNN (26 January 2019). "Padma Vibhushan for Babasaheb Purandare, A M Naik". The Times of India. Retrieved 26 January 2019.
10. "AM Naik, Larsen & Toubro, Business Leader of the Year". The Economic Times. 17 January 2009. Retrieved 20 December 2019.
11. Jain, Ankur (26 January 2009). "Padma Bhushan for 4 Gujaratis". The Times of India. Ahmedabad.
12. Piyush Pandey (18 November 2017). "The man who took on Ambani, Birla to 'save' L&T". The Hindu. Retrieved 18 November 2017.
13. "Larsen and Toubro's retired chairman Anil Naik receives Rs 21 crore as cash encashment for unused sick leaves". businesstoday.in. 29 January 2019. Retrieved 26 August 2019.
14. Layak, Suman (18 November 2017). "Minhaz Merchant's book on AM Naik is more than a biography, it is also a meeting of minds". The Economic Times. Retrieved 26 August 2019.
15. Merchant, Minhaz (2017). The nationalist : how A.M. Naik overcame great odds to transform Larsen & Toubro into a global powerhouse. Harper Business. p. 23. ISBN 9789352772889. OCLC 1021061261.
16. "Reinvigorating a corporate giant: An interview with the chairman of India's largest infrastructure company". McKinsey & Company. Retrieved 21 December 2011.
17. "Lunch and Breakfast with BS:AM Naik". Business Standard. Retrieved 21 December 2011.
18. "AM Naik — A rare interview to Moneylife". Moneylife. Retrieved 21 December 2011.
19. Merchant, Minhaz (2017). The nationalist : how A.M. Naik overcame great odds to transform Larsen & Toubro into a global powerhouse. Noida, Uttar Pradesh, India: Harper Business. p. 51. ISBN 9789352772889. OCLC 1021061261.
20. "Reinvigorating a corporate giant: An interview with the chairman of India's largest infrastructure company | McKinsey". mckinsey.com. Retrieved 3 September 2019.
21. Raghunathan, Anu. "India's Mr. Infrastructure, A.M. Naik Of Larsen & Toubro, Completes 50 Years At The Conglomerate". Forbes. Retrieved 31 December 2020.
22. Mathai, Palakunnathu G. (15 November 1988). "With the acquisition of L&T, Ambanis get ready to go full speed ahead". India Today. Retrieved 12 September 2019.
23. "Grasim open offer for L&T — Right in letter, wrong in spirit". @businessline. 20 October 2002. Retrieved 6 March 2021.
24. "L&T's AM Naik recalls thwarting takeover bids from Ambanis, Birla". The Economic Times. 19 November 2017. Retrieved 27 August 2019.
25. Chatterjee, Dev (17 September 2014). "40 Years Ago... And now: L&T - The graveyard of corporate raiders". Business Standard India. Retrieved 27 August 2019.
26. "The man who won't slow down". fortuneindia.com. 5 March 2011. Retrieved 27 August 2019.
27. Sarin, Sharad (2010), "Brand L&T: Nation Building to Building Nations", Strategic Brand Management for B2B Markets: A Road Map for Organizational Transformation, SAGE Publications India Pvt Ltd, pp. 89–108, doi:10.4135/9781446270271, ISBN 9788132105220, retrieved 27 August 2019
28. Excelsior, Daily (18 May 2019). "L&T Chairman Naik felicitated for his role in nation building". Jammu Kashmir Latest News | Tourism | Breaking News J&K. Retrieved 27 August 2019.
29. "Special dividend in honour of Chairman Naik: L&T". The Economic Times. 31 July 2023. Retrieved 9 August 2023.
30. "A.M. Naik appointed as Chairman of National Skill Development Corporation". pib.gov.in. Retrieved 27 August 2019.
31. "NSDC INDIA Press Release" (PDF). National Skill Development Corporation.
32. Prasad, Rachita; Sriram, R. (26 August 2016). "L&T chief AM Naik pledges 75 per cent of his income to philanthropy". The Economic Times. Retrieved 3 September 2019.
33. "A.M. Naik-founded Nirali Memorial Medical Trust to set up Cancer Hospital at Navsari, Tata Trusts to manage operations". Tata Trusts. Retrieved 3 September 2019.
34. "L&T's AM Naik joins hands with Tatas to set up cancer hospital". businesstoday.in. 11 July 2018. Retrieved 3 September 2019.
35. domex (19 January 2019). "PM Lays Foundation Stone Of A Cancer Hospital At Navsari, Gujarat". indiaprojectsnews.in. Retrieved 3 September 2019.
36. Modi, Narendra (18 January 2019). "I shall be visiting Hazira tomorrow. I would be dedicating L&T's Armoured Systems Complex to the nation and also be laying the foundation stone for the Nirali Cancer hospital at Navsari". @narendramodi. Retrieved 3 September 2019.
37. ^ "A M Naik-established trust to set up hospital in Navsari". Business Standard India. Press Trust of India. 1 June 2019. Retrieved 3 September 2019.
38. "The Economic Times Awards for Corporate Excellence 2023: A look at the Indian winners league". The Economic Times. 19 December 2023. ISSN 0013-0389. Retrieved 19 December 2023.
39. "L&T's Anil Manibhai Naik gets Lifetime Achievement Award. Check full list of winners at Forbes India Leadership Awards 2023". Moneycontrol. 24 March 2023. Retrieved 28 March 2023.
40. Staff Writer (22 March 2023). "Businessmen, dealmakers share top honours at Mint Investment Awards". mint. Retrieved 28 March 2023.
41. "CNBC-TV18 IBLA highlights: Adar Poonawalla Outstanding Business Leader, HUL Outstanding Company; check for full list of winners". CNBC. 1 April 2022. Retrieved 6 April 2022.
42. "EY Entrepreneur Of The Year 2021 Finalists". EY Entrepreneur Of The Year. Retrieved 11 April 2022.
43. "EY announces the 21 finalists for '23rd EY Entrepreneur of the Year' awards". Business Standard. 28 March 2022. Retrieved 11 April 2022.
44. Debroy, Bibek (14 December 2021). "BS Awards 2021 highlights: Indian economy should recover well, say winners". Business Standard. Retrieved 25 February 2022.
45. "L&T's A M Naik gets Padma Vibhushan". The Hindu. 16 March 2019. ISSN 0971-751X. Retrieved 3 September 2019.
46. BMA-India.com (22 February 2018). "BMA felicitates A. M. Naik & Subhash Chandra among others at Corporate Leadership Awards". Bombay Management Association. Retrieved 3 September 2019.
47. "Mr. Infrastructure- Business News". businesstoday.in. 10 January 2018. Retrieved 3 September 2019.
48. "Outlook India: More than just the news magazine from India". Outlook. Retrieved 16 September 2019.
49. "43rd Giants Day Celebration and Awards Function 2015 | Giants Welfare Foundation". Retrieved 3 September 2019.
50. Excelsior, Daily (8 January 2015). "AM Naik wins "Businessman of the Year Award"". Jammu Kashmir Latest News | Tourism | Breaking News J&K. Retrieved 3 September 2019.
51. "Avartan NITIE". Facebook. Archived from the original on 26 February 2022. Retrieved 3 September 2019.
52. "India Today High and Mighty 2014: 50 powerful people". India Today. 14 November 2014. Retrieved 3 September 2019.
53. Hansen, Morten T.; Ibarra, Herminia; Peyer, Urs (1 January 2013). "The Best-Performing CEOs in the World". Harvard Business Review. No. January–February 2013. ISSN 0017-8012. Retrieved 3 September 2019.
54. "Chemical Engineering World". cewindia.com. Archived from the original on 3 September 2019. Retrieved 3 September 2019.
55. "Essar Steel | Events | Essar Steel Infrastructure Excellence Awards 2012 announced". EssarSteel. Retrieved 16 September 2019.
56. "Powerful CEOs 2012 - Global Indian Business Leaders of 2012 - The Economic Times". economictimes.indiatimes.com. Retrieved 3 September 2019.
57. "Asia Business Leaders Awards". CNBC. Archived from the original on 18 September 2018. Retrieved 26 August 2019.
58. cnbc.com (25 November 2010). "Region's Top Leaders Named at the 9th CNBC Asia Business Leaders Awards". CNBC. Retrieved 26 August 2016.
59. "A.M. Naik receiving Golden Peacock Life Time Achievement Award for Business Leadership 2010". goldenpeacockawards.com. Retrieved 26 August 2019.
60. "Priyadarshni". priyadarshniacademy.com. Retrieved 26 August 2019.
61. "A very prestigious award: AM Naik". ndtv.com. Retrieved 26 August 2019.
62. "NDTV Profit Gives Away Business Leadership Awards". bestmediaifo.com. 3 September 2010. Retrieved 26 August 2019.
63. "46th Annual Report and Accounts" (PDF). Indian Society for Training & Development. Retrieved 11 September 2019.
64. "Qimpro - Qimpro Awards - Business". qimpro.com. Retrieved 26 August 2019.
65. "Qimpro Platinum Standard 2009". qimpro.com. Retrieved 26 August 2019.
66. "Mumbai's Top 50 Influentials | Latest News & Updates at DNAIndia.com". DNA India. 30 July 2009. Retrieved 26 August 2019.
67. "PM, Advani, Tata, Ambanis among India's most powerful". The Economic Times. 19 April 2009. Retrieved 26 August 2019.
68. "Padma Awards announced". pib.gov.in. Retrieved 7 September 2019.
69. "Padma Awards | Interactive Dashboard". www.dashboard-padmaawards.gov.in. Retrieved 7 September 2019.
70. "AM Naik, Larsen & Toubro, Business Leader of the Year". The Economic Times. 17 January 2009. Retrieved 26 August 2019.
71. Machinist. "MACHINIST - A M Naik, L&T CMD, conferred Gujarat Garima Award". machinist.in. Retrieved 26 August 2019.
72. "Gujarat Garima Award 2009 to Larsen & Toubro(L&T)'s AM Naik". DeshGujarat. 10 January 2009. Retrieved 26 August 2019.
73. "A M Naik, L&T CMD, conferred Gujarat Garima Award". moneycontrol.com. Retrieved 26 August 2016.
74. "EY - Entrepreneur of the Year - Past winners". EY - Entrepreneur of the Year. Archived from the original on 9 August 2019. Retrieved 26 August 2019.
75. "Asian Centre for Corporate Governance & Sustainability Awards – 2008 – Asian Centre for Corporate Governance". Retrieved 26 August 2019.
76. "V. Krishnamurthy Award for Excellence". COD. Archived from the original on 21 October 2019. Retrieved 26 August 2019.
77. "The History of Sankara Ratna and Shrimathi M.S. Subbulakshmi Awards". sankaranethralaya.org. Retrieved 26 August 2019.
78. "Eye Lights" (PDF). April 2005.
79. Balasubramanian, S. (2007). The art of business leadership : Indian experiences. Los Angeles : Sage Response. p. 104. ISBN 9788178299747. OCLC 403775659.
80. "Awards AIMA Jrd Tata Corporate Leadership Award | AIMA". aima.in. Archived from the original on 25 December 2018. Retrieved 26 August 2019.
81. "The Project". indiatoday.dk (in Danish). Retrieved 10 March 2017.
82. "L&T's A M Naik resigns as IIMA chairman Board of Governors". Business Standard India. Press Trust of India. 1 January 2016. Retrieved 11 September 2019.
83. Reporter, B. S. (29 February 2012). "AM Naik nominated as chairman of IIM-A board". Business Standard India. Retrieved 3 September 2019.
84. "Sheel Shrutam" (PDF). Sardar Patel University Monthly News Letter. December 2011.
85. 20 January 2013. "Convocation ceremony: Convocation ceremony at Gujarat Technological University held". The Times of India. Retrieved 11 September 2019.{{cite news}}: CS1 maint: numeric names: authors list (link)
86. "L&T's Anil Naik awarded DLitt by VNSGU - Times of India". The Times of India. 26 February 2016. Retrieved 11 September 2019.
87. "MS University to confer honorary degree on Naik, Sanghvi". Business Standard India. Press Trust of India. 1 April 2016. Retrieved 11 September 2019.
88. "EdelGive Hurun India Philanthropy List21". hurun-india. Retrieved 29 October 2021.
89. Gupte, Masoom (19 September 2018). "AM Naik - who owns 6 shirts & 3 suits - plans to give away all money he made as L&T boss". The Economic Times. Retrieved 11 September 2019.
90. "The Nationalist". HarperCollinsPublishers India. Retrieved 11 September 2019.
91. Majumdar, Shyamal (20 January 2018). "'The Nationalist', the story of A M Naik, who rebuilt Larsen & Toubro". Business Standard India. Retrieved 31 December 2020.
92. Sarin, Sharad (2010). Strategic Brand Management for B2B Markets: A Road Map for Organizational Transformation. New Delhi. doi:10.4135/9781446270271. ISBN 9788132105220.{{cite book}}: CS1 maint: location missing publisher (link)
93. Balasubramanian, S (2007). The art of business leadership: Indian experiences. Los Angeles [Calif.: Response Books. ISBN 9788178299747. OCLC 403775659.

External links

• Interview of AM Naik, Feb 2012
• Interview of AM Naik, Feb 2014

v t e Larsen & Toubro
Divisions & subsidiaries	Hyderabad Metro LTIMindtree L&T Technology Services
Former holdings	L&T Mutual Fund L&T Cement
People	Anil Manibhai Naik S N Subrahmanyan Henning Holck-Larsen Søren Kristian Toubro Shrikant Joshi
Category

• 1942 births
• Living people
• Indian chief executives
• Recipients of the Padma Bhushan in trade and industry
• Knights of the Order of the Dannebrog
• Gujarati people
• Businesspeople from Gujarat
• Engineers from Gujarat
• Recipients of the Padma Vibhushan in trade & industry
• Larsen & Toubro