The Board of Directors of Larsen & Toubro announced that R Shankar Raman will be appointed Chief Financial Officer of the Company on 6 September 2011, and will subsequently be elevated to the Board on 1 October 2011. Shankar Raman will succeed YM Deosthalee, who takes over as Chairman and Managing Director of L&T Finance Holdings.
Raman is currently Senior Vice President, Finance & Legal. He qualified as a Chartered Accountant in May 1983 and became a Graduate of the Institute of Cost & Works Accountants of India in 1986. Over the past 29 years of professional work experience, Shankar Raman has worked for leading listed corporations in varied capacities in the field of finance.
Raman's portfolio covers a wide range of critical functions such as Finance and Treasury, Corporate Accounts, Taxation, Insurance, Risk Management, Legal, and Investor Relations. He is on the Board of several companies including international subsidiaries within the Larsen & Toubro Group. Raman is a member of Western India Regional Council of Confederation of Indian Industries.
“If the infrastructure investment were to explode you will soon have banks hitting the ceiling on sectoral exposures,” Raman said in an interview to Infrastructure Today last year.
Projects are not being awarded in the way it ought to be awarded considering the amount of work that remains to be done. It is happening in a slow bureaucratic way. This actually helps to keep the problem under the carpet for a while.”