Jump to content

A. M. Naik

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 49.206.126.198 (talk) at 12:51, 9 June 2020 (→Early life). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Anil Manibhai Naik
Born (1942-06-09) 9 June 1942 (age 82)
CitizenshipIndian
EducationB. E. (Mechanical Engineering)
OccupationGroup Chairman of Larsen & Toubro
EmployerLarsen & Toubro
SpouseGeeta Naik
Children2
AwardsPadma Vibhushan (2019)
Padma Bhushan (2009)
WebsiteAnil Manibhai Naik - Larsentoubro.com

Anil Manibhai Naik (born 9 June 1942), popularly known as A. M. Naik, is an Indian industrialist, philanthropist and the Group Chairman of Larsen & Toubro Limited, an Indian engineering conglomerate, and since 2018, the Chairman of the National Skill Development Corporation.[1][2][3][4][5][6]

He was awarded the Padma Bhushan, India's 3rd highest civilian award, in 2009.[7] In 2019, he was awarded the Padma Vibhushan, India's 2nd highest civilian award.[8] Naik is also the recipient of the 'Economic Times - Business Leader of the Year Award, for the year 2008.[9]

Early life

Naik is a Gujarati.[10] He was born to a family of teachers in Gujarat, also referred to as Master Kutumb in Gujarati language.[11][6] His father, who used to teach at a 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.[12] Young Anil's early schooling therefore was in Endhal and the neighbouring village of Kharel.[13] 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.[14]

He graduated with a bachelor's degree in mechanical engineering from Birla Vishvakarma Mahavidyalaya Engineering college in Vallabh Vidyanagar in Gujarat.[15]

Young Anil with parents and sisters
Young Anil with parents and sisters

After graduation, he went to Mumbai with a note from his father introducing him to Viren J. Shah 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.[16] 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.[17] A rapid rise followed. He was appointed Assistant Manager within three years and 15 days of joining – a record at L&T.[18] 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.[19] In 2017, he stepped aside from executive responsibilities, and took over as Group Chairman.

Mr. A.M.Naik at an L&T workshop
Mr. A.M.Naik at L&T's Heavy Engineering workshop.

Ring fencing L&T

In the late 1980s, L&T encountered a take over attempt as a large business group seized substantial stake in the company.[20]  Matters came to a head in 2002, when the group's entire holding was transferred en bloc to yet another family-owned business house.[21]  The way in which Naik thwarted the take-over and fortified L&T against such threats has been widely covered in the media.[22] It 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.[23][24]

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’.[25][26]

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.[27] 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.[28] 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 his personal capacity, Naik is a philanthropist who is committed to securing positive outcomes on his initiatives in healthcare, education and skill-building.[29] 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.[30]

Nirali Memorial Medical Trust had entered into an agreement to set up a Cancer Hospital at Navsari which will be operated by Tata Trusts.[31][32] In January 2019, the Prime Minister of India laid the foundation stone for the Cancer hospital in Navsari, Gujarat.[33][34] The healthcare campus at Navsari will also house a speciality hospital for which the NMMT has tied up with the Apollo Hospitals Group.[35] 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.[35]

Awards and Honours

Year Name Awarding Organisation Ref
2019 Padma Vibhushan Government of India [36]
2018 Lifetime Achievement Award Bombay Management Association [37]
2018 Lifetime Achievement Award Business Today [38]
2017 India's  50 Greatest CEOs Ever Outlook Magazine [39]
2015 Giants International Award Giants International [40]
2015 Businessman of the Year 2014 Award Business India [41]
2015 Lakshya Business Business Visionary Awards 2015 National Institute of Industrial Engineering (NITIE), Mumbai [42]
2014 India Today Power List – 50 Most Powerful People India Today [43]
2012 The Best-Performing CEOs in the World Harvard Business Review [44]
2012 D.M. Trivedi Lifetime Achievement Award Indian Chemical Council [45]
2012 Infrastructure Leader of the Year Infrastructure Excellence Awards [46]
2012 Most Powerful CEOs Economic Times [47]
2010 Asia Business Leader Award - 2010 CNBC Asia [48][49]
2010 Golden Peacock Life Time Achievement Award for Business Leadership Golden Peacock Awards [50]
2010 Harish Mahindra Memorial Global Award for Outstanding Contribution to Corporate Leadership Priyadarshni Academy [51]
2010 Business leader of the Year - Building India NDTV Profit [52][53]
2010 Best CEO of the Year Award Indian Society for Training & Development [54]
2010 Qimpro Platinum Standard – National Statesman Award for Excellence in Business Qimpro Foundation [55][56]
2009 Mumbai's 50 Most Influential DNA [57]
2009 India's 50 Most Powerful People Business Week [58]
2009 Padma Bhushan Government of India [59][60]
2009 Business Leader of the Year The Economic Times [61]
2009 Gujarat Garima (Pride of Gujarat) Award Government of Gujarat [62][63][64]
2008 Entrepreneur Of The Year Ernst & Young [65]
2008 Best Transformational Leader Asian Centre for Corporate Governance & Sustainability Awards [66]
2008 V. Krishnamurthy Award for Excellence Centre for Organization Development, Hyderabad [67]
2005 Sankara Ratna Sankara Nethralaya [68][69]
2004 Lifetime Achievement Excellence Award for 'Best Corporate Man of the Decade' Foundation of Indian Industry & Economists [70]
2003 JRD TATA Corporate Leadership Award All India Management Association [71]
  • Honorary Consul General for Denmark.[72]
  • 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.[73]
  • 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[74]
  • Conferred ‘Doctor of Letters’ (Honoris Causa) by the Sardar Patel University on 15 December 2011[75]
  • Conferred Doctor of Philosophy from Gujarat Technological University on 19 January 2013[76]
  • Conferred Doctor of Letters from Veer Narmad University of South Gujarat on 26 February 2016[77]
  • Conferred Doctor of Science from Maharaja Sayajirao University of Baroda in December 2016[78]

Personal life

A.M. Naik is married to Geeta Naik. They have two children.[79]

Bibliography

‘The Nationalist – How A.M. Naik Transformed L&T into a Global Powerhouse’, by Minhaz Merchant and published by Harper Collins.[80]

'Strategic Brand Management for B2B Markets: A Road Map for Organizational Transformation', by Sharad Sarin and published by SAGE Publications India Pvt Ltd.[81]

'The Art of Business Leadership : Indian experiences', by S Balasubramanian and published by Response Books.[82]

References

  1. ^ "Board of directors of L&T: A M Naik". Larsen & Toubro. Retrieved 5 April 2019.
  2. ^ "Larsen & Toubro Annual Report 2017-18" (PDF). Larsen & Toubro. Retrieved 5 April 2019.
  3. ^ "L&T Executive Chairman AM Naik to take home Rs 32.21 crore leave encashment". Business Today. Retrieved 23 August 2017.
  4. ^ "Ministry of Skill Development & Entrepreneurship appoints Mr. AM Naik as Chairman of NSDC" (PDF). National Skill Development Corporation. Retrieved 23 August 2019.
  5. ^ Nanda, Prashant K. (28 November 2018). "L&T's A.M. Naik appointed NSDC chairman". Mint.
  6. ^ a b "Living life the L&T way" (PDF). Intecc.com. Retrieved 23 August 2019.
  7. ^ "Padma Awards" (PDF). Ministry of Home Affairs, Government of India. 2015. Archived from the original (PDF) on 19 October 2017. Retrieved 21 July 2015.
  8. ^ TNN (26 January 2019). "Padma Vibhushan for Babasaheb Purandare, A M Naik". The Times of India. Retrieved 26 January 2019.
  9. ^ "AM Naik, Larsen & Toubro, Business Leader of the Year". 17 January 2009. Retrieved 20 December 2019 – via The Economic Times.
  10. ^ Jain, Ankur (26 January 2009). "Padma Bhushan for 4 Gujaratis". Ahmedabad: The Times of India.
  11. ^ Piyush Pandey. "The man who took on Ambani, Birla to 'save' L&T". The Hindu. Retrieved 18 November 2017.
  12. ^ "Larsen and Toubro's retired chairman Anil Naik receives Rs 21 crore as cash encashment for unused sick leaves". businesstoday.in. Retrieved 26 August 2019.
  13. ^ 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.
  14. ^ 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.
  15. ^ "Reinvigorating a corporate giant: An interview with the chairman of India's largest infrastructure company". McKinsey & Company. Retrieved 21 December 2011.
  16. ^ "Lunch and Breakfast with BS:AM Naik". Business Standard. Retrieved 21 December 2011.
  17. ^ "AM Naik — A rare interview to Moneylife". Moneylife. Retrieved 21 December 2011.
  18. ^ 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.
  19. ^ "Reinvigorating a corporate giant: An interview with the chairman of India's largest infrastructure company | McKinsey". mckinsey.com. Retrieved 3 September 2019.
  20. ^ 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.
  21. ^ "Grasim open offer for L&T — Right in letter, wrong in spirit". @businessline. Retrieved 12 September 2019.
  22. ^ "L&T's AM Naik recalls thwarting takeover bids from Ambanis, Birla". The Economic Times. 19 November 2017. Retrieved 27 August 2019.
  23. ^ Chatterjee, Dev (17 September 2014). "40 Years Ago... And now: L&T - The graveyard of corporate raiders". Business Standard India. Retrieved 27 August 2019.
  24. ^ "The man who won't slow down". fortuneindia.com. Retrieved 27 August 2019.
  25. ^ 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, retrieved 27 August 2019
  26. ^ 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.
  27. ^ "A.M. Naik appointed as Chairman of National Skill Development Corporation". pib.gov.in. Retrieved 27 August 2019.
  28. ^ "NSDC INDIA Press Release" (PDF). National Skill Development Corporation.
  29. ^ Ghosh, Labonita (1 October 2013). "How Larsen and Toubro CEO AM Naik invests in Philanthropy". The Economic Times. Retrieved 3 September 2019.
  30. ^ 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.
  31. ^ "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.
  32. ^ "L&T's AM Naik joins hands with Tatas to set up cancer hospital". businesstoday.in. Retrieved 3 September 2019.
  33. ^ domex (19 January 2019). "PM Lays Foundation Stone Of A Cancer Hospital At Navsari, Gujarat". indiaprojectsnews.in. Retrieved 3 September 2019.
  34. ^ 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.
  35. ^ a b India, Press Trust of (1 June 2019). "A M Naik-established trust to set up hospital in Navsari". Business Standard India. Retrieved 3 September 2019.
  36. ^ "L&T's A M Naik gets Padma Vibhushan". The Hindu. Special Correspondent. 16 March 2019. ISSN 0971-751X. Retrieved 3 September 2019.{{cite news}}: CS1 maint: others (link)
  37. ^ 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.
  38. ^ "Mr. Infrastructure- Business News". businesstoday.in. Retrieved 3 September 2019.
  39. ^ "Outlook India: More than just the news magazine from India". Outlook. Retrieved 16 September 2019.
  40. ^ "43rd Giants Day Celebration and Awards Function 2015 | Giants Welfare Foundation". Retrieved 3 September 2019.
  41. ^ 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.
  42. ^ "Avartan NITIE". Facebook. Retrieved 3 September 2019.
  43. ^ "India Today High and Mighty 2014: 50 powerful people". India Today. Retrieved 3 September 2019.
  44. ^ 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.
  45. ^ "Chemical Engineering World". cewindia.com. Retrieved 3 September 2019.
  46. ^ "Essar Steel | Events | Essar Steel Infrastructure Excellence Awards 2012 announced". EssarSteel. Retrieved 16 September 2019.
  47. ^ "Powerful CEOs 2012 - Global Indian Business Leaders of 2012 - The Economic Times". economictimes.indiatimes.com. Retrieved 3 September 2019.
  48. ^ "Asia Business Leaders Awards". abla.cnbc.com. Retrieved 26 August 2019.
  49. ^ cnbc.com (25 November 2010). "Region's Top Leaders Named at the 9th CNBC Asia Business Leaders Awards". Retrieved 26 August 2016.
  50. ^ "A.M. Naik receiving Golden Peacock Life Time Achievement Award for Business Leadership 2010". goldenpeacockawards.com. Retrieved 26 August 2019.
  51. ^ "Priyadarshni". priyadarshniacademy.com. Retrieved 26 August 2019.
  52. ^ "A very prestigious award: AM Naik". ndtv.com. Retrieved 26 August 2019.
  53. ^ "NDTV Profit Gives Away Business Leadership Awards". bestmediaifo.com. Retrieved 26 August 2019.
  54. ^ "46th Annual Report and Accounts" (PDF). Indian Society for Training & Development. Retrieved 11 September 2019.
  55. ^ "Qimpro - Qimpro Awards - Business". qimpro.com. Retrieved 26 August 2019.
  56. ^ "Qimpro Platinum Standard 2009". qimpro.com. Retrieved 26 August 2019.
  57. ^ "Mumbai's Top 50 Influentials | Latest News & Updates at DNAIndia.com". DNA India. 30 July 2009. Retrieved 26 August 2019.
  58. ^ "PM, Advani, Tata, Ambanis among India's most powerful". The Economic Times. 19 April 2009. Retrieved 26 August 2019.
  59. ^ "Padma Awards announced". pib.gov.in. Retrieved 7 September 2019.
  60. ^ "Padma Awards | Interactive Dashboard". www.dashboard-padmaawards.gov.in. Retrieved 7 September 2019.
  61. ^ "AM Naik, Larsen & Toubro, Business Leader of the Year". The Economic Times. 17 January 2009. Retrieved 26 August 2019.
  62. ^ Machinist. "MACHINIST - A M Naik, L&T CMD, conferred Gujarat Garima Award". machinist.in. Retrieved 26 August 2019.
  63. ^ "Gujarat Garima Award 2009 to Larsen & Toubro(L&T)'s AM Naik". DeshGujarat. 10 January 2009. Retrieved 26 August 2019.
  64. ^ "A M Naik, L&T CMD, conferred Gujarat Garima Award". moneycontrol.com. Retrieved 26 August 2016.
  65. ^ "EY - Entrepreneur of the Year - Past winners". EY - Entrepreneur of the Year.
  66. ^ "Asian Centre for Corporate Governance & Sustainability Awards – 2008 – Asian Centre for Corporate Governance". Retrieved 26 August 2019.
  67. ^ "V. Krishnamurthy Award for Excellence". COD. Retrieved 26 August 2019.
  68. ^ "The History of Sankara Ratna and Shrimathi M.S. Subbulakshmi Awards". sankaranethralaya.org. Retrieved 26 August 2019.
  69. ^ "Eye Lights" (PDF). April 2005.
  70. ^ Balasubramanian, S. (2007). The art of business leadership : Indian experiences. Los Angeles [Calif.]: Sage Response. p. 104. ISBN 9788178299747. OCLC 403775659.
  71. ^ "Awards AIMA Jrd Tata Corporate Leadership Award | AIMA". aima.in. Retrieved 26 August 2019.
  72. ^ "The Project". indiatoday.dk (in Danish). Retrieved 10 March 2017.
  73. ^ India, Press Trust of (1 January 2016). "L&T's A M Naik resigns as IIMA chairman Board of Governors". Business Standard India. Retrieved 11 September 2019.
  74. ^ Reporter, B. S. (29 February 2012). "AM Naik nominated as chairman of IIM-A board". Business Standard India. Retrieved 3 September 2019.
  75. ^ "Sheel Shrutam" (PDF). Sardar Patel University Monthly News Letter. December 2011.
  76. ^ 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)
  77. ^ "L&T's Anil Naik awarded DLitt by VNSGU - Times of India". The Times of India. Retrieved 11 September 2019.
  78. ^ India, Press Trust of (1 April 2016). "MS University to confer honorary degree on Naik, Sanghvi". Business Standard India. Retrieved 11 September 2019.
  79. ^ 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.
  80. ^ "The Nationalist". HarperCollinsPublishers India. Retrieved 11 September 2019.
  81. ^ Sarin, Sharad (2010). Strategic Brand Management for B2B Markets: A Road Map for Organizational Transformation. New Delhi.{{cite book}}: CS1 maint: location missing publisher (link)
  82. ^ Balasubramanian, S (2007). The art of business leadership: Indian experiences. Los Angeles [Calif.: Response Books. ISBN 9788178299747. OCLC 403775659.
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=A._M._Naik&oldid=961608758"