Titan Company CEO Venkataraman Granted Extension, Potential Successors Emerge
Current CEO C K Venkataraman has been granted an extension for a second term, spanning 14 months until December 2025. This extension will allow him to oversee the transition process before stepping down from his role, as he will turn 65, the group's retirement age, on 30 October next year.
Ajoy Chawla, CEO of the jewellery business; Suparna Mitra, head of the watches and wearables division; and Saumen Bhaumik, who oversees the eyecare business.
Over the next few months, the board will rigorously evaluate these candidates to ensure a smooth leadership transition for Titan Company Limited. The selection process will be crucial in determining who will lead the company and maintain its tradition of innovation and growth within the Tata Group.
In other news, Apple is reportedly in talks with the Murugappa Group and Tata Group's Titan Company to assemble and produce sub-components for iPhone camera modules. This move would mark a significant development for Indian manufacturing, as Apple currently does not have Indian suppliers for the camera module integrated into its iPhones.
Finally, Titan Company Limited reported a profit of Rs 786 crore in the quarter ending on 31 March, up 7.1% year-on-year from the same period last year. The company also reported a 17% increase in revenue for the quarter, reaching Rs 10,047 crore compared to Rs 8,553 crore the previous year.