L&T plans to restructure top management

Report says that this move comes as part of its succession plan and will do away with the position of 'managing director and chief executive officer' in its current form.

Engineering major Larsen & Toubro is reportedly planning to restructure its top management.

Report says that this move comes as part of its succession plan and will do away with the position of 'managing director and chief executive officer' in its current form.

The succession plan may be announced in October and will see appointment of chief executive officers for different businesses who would report directly to Naik, says report.

"There's no need for the post of MD and CEO and we will be making some changes to restructure our top management, " says chairman AM Naik.