IT company LTIMindtree announced that its chairman A M Naik has decided to step down from the post and S N Subrahmanyan has been appointed as the new chairman. Naik made the announcement at the company’s 28th Annual General Meeting. The board of the company has appointed S N Subrahmanyan, (Vice-Chairman), as Chairman with effect from June 27, 2024, according to a regulatory filing. The filing expressed appreciation for Naik’s efforts in founding the company and dedication towards building the information technology giant within the L&T group. Naik also stated, “I feel privileged to have not only led such a great organization but also laid the foundation for future growth and success.”