Padma Bhushan A M Naik, L&T chief, is new IIM-A chairman

Anil Manibhai Naik (born 9 June 1942), the chairman and managing director of engineering and infrastructure major Larsen & Toubro, has been appointed as the new chairman of the Indian Institute of Management, Ahmedabad (IIM-A) Society. He will also chair the institute's board of governors.

Naik was awarded the Padma Bhushan, thye country's third highest civilian award after the Bharat Ratna and the Padma Vibhushan on 26 January 2009.

Naik has previously served on the board of India's premier business school for seven years. He will take over from Raymond's chairman emeritus Vijaypat Singhania, whose five-year term as IIM-A chairman ends on 28 March, IIM-A director Samir Barua confirmed on Tuesday.

Naik joined L&T on 15 March 15, 1965,  as a junior engineer, rising to general manager in 1986. In 1999, he became the chief executive officer and managing director. And in 2003, he was appointed as chairman of Larsen & Toubro Ltd.

This is the first time that the institute has appointed its own chairman as part of the new memorandum of association (MoA) between the central government and the institute. The ministry selecting Naik from names proposed by the institute is an important step towards much-sought autonomy.

"Naik will take charge after the present chairman Vijaypath Singhania's term ends on March 28," said IIM-A director Samir Barua.