Larsen & Toubro gained from having a charismatic, all-powerful leader. It was also left with a management void in the end
L&T currently has no one in the board who can lead the company after CMD A.M. Naik steps down. Even if a new person is drafted in by September, he has less than two years to absorb the complex task of running a behemoth like L&T.
(This story appears in the 04 June, 2010 issue of Forbes India. To visit our Archives, click here.)