L&T's Deosthalee set to hang up boots, Raman steps in

Mumbai: Infrastructure major Larsen & Toubro has announced the appointment of R Shankar Raman as its new chief financial officer from September 6, in the place of Y M Deosthalee, who is retiring.[caption id="attachment_56910" align="alignleft" width="380" caption="Deosthalee will retire from the services on September 5 till which he will continue to be the chief financial officer and whole-time director of the company, L&T told the exchanges. Reuters"][/caption]Raman, currently senior vice-president, finance and legal, will succeed Deosthalee, who has been appointed chairman and managing director of L&T Finance Holdings, from September 6, the company said in a statement issued here. Deosthalee will retire from the services on September 5 till which he will continue to be the chief financial officer and whole-time director of the company, L&T told the exchanges.Raman, who will subsequently be elevated to the board on October 1, held critical portfolios such as finance and treasury, corporate accounts, taxation, insurance, risk management, legal and investor relations, it said. With over 29 years of professional work experience, Raman has worked for leading corporations in varied capacities in the field of finance.PTI