L&T Chief A M Naik Quits As IIM-A Chairman

01 January, Ahmedabad

Indian Institute of Management, Ahmedabad (IIMA) has constituted a search committee for the selection of new chairman of its board of governors following the resignation of Larsen and Toubro group executive chairman A M Naik.

Naik will continue as chairman of the governing body till his replacement is found, said an IIMA release.

Naik has urged the board to find his replacement as he was finding it difficult to do justice to the institution due to his responsibilities as L&T group executive chairman.

In his resignation letter to the Union Human Resources Development Ministry Naik said, “This has not been an easy decision to make, given my deeply fulfilling experience of close to four years. But, owing to increased business responsibilities, I do not believe I will be able to do full justice to my position.”

Naik was appointed in 2012 as the chairman of IIMA board for three years but his term was extended by another three years in 2015.

He had told the IIMA board about his decision to quit at the board meeting here on December 18. ” Naik’s tenure as IIMA Chairman has been an exciting time for the Institute. IIMA has taken several new initiatives in the last few years to build on its strengths and become more impactful as a global leader in management education,” IIMA director Ashish Nanda said.