Titan Announces Succession Plan for the Managing Director
The Board of Directors of Titan Company Limited (“Titan” or the “Company”), at its meeting held today, approved the succession plan for the Managing Director of the Company. C. K. Venkataraman (Venkat), the current Managing Director, will retire from the services of the Company on 31st December 2025 on attaining the age of superannuation as per the Tata Group’s retirement policy. Venkat had joined Titan in the year 1990 and became the Managing Director on 1st October 2019
Ajoy Chawla to Succeed Venkat as Managing Director
Ajoy Chawla (Ajoy), currently the Chief Executive Officer (CEO) of the Company’s Jewellery Division, will succeed Venkat as the Managing Director with effect from 1st January 2026.
Ajoy Chawla’s Educational and Professional Background
Ajoy Chawla graduated as a Mechanical Engineer from VJTI Mumbai and then did his PGDM from IIM-Calcutta. He became part of the Tata Administrative Services (TAS) in 1990 and initially joined the finance department of Titan in 1991. Over the next two decades, he was in the Watches Division, and played several roles spanning Commercial, Sales, Retailing, Supply chain, SAP implementation, leading accessories and licensed brands as SBU Head and then heading the Titan SBU for Domestic and International.
Roles in Strategy and New Business Initiatives
Between 2013 and 2019, Ajoy was the Chief Strategy Officer of Titan as well as heading Business Incubation, scaling the Fragrances business and establishing the Taneira business.
Leadership of Jewellery Division Since 2019
In October 2019, Ajoy became the CEO of Titan’s Jewellery Division. Under his leadership, the Jewellery Division has grown 2.5X in sales and profits and reinforced its market and thought leadership.
Board Induction and Approval Process
The formal process to induct Ajoy on the Board of the Company and his appointment as Managing Director of Titan will be completed in due course and the same is subject to the shareholders’ approval.
Successor for Jewellery Division to be Announced Later
The decision relating to Ajoy’s successor in the Jewellery Division will be taken subsequently.
Statement from C.K. Venkataraman, Managing Director of Titan
C.K. Venkataraman, Managing Director of Titan, said:
“On behalf of the entire Titan team, I welcome Ajoy to lead Titan in its next phase of innovation and growth. With his strong customer obsession, people orientation, partnering impulse and focus on creating value, Ajoy is well qualified to shepherd Titan towards even greater glory and scale.”
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