Titan Industries today said it has appointed Subbu Subramaniam as the Chief Financial Officer (CFO) of the company with effect from March 4, 2011.
In a filing to the Bombay Stock Exchange, the firm also said that Nihal Kaviratne, an independent director of Titan Industries, has resigned from the board with effect from March 3, 2011.
On March 3, the company had said that another Tata Group company Tanishq (India) has proposed to merge itself with parent company Titan Industries.
"Tanishq has already filed a petition in this regard with the High Court of Karnataka following board passing a Scheme of Amalgamation," Titan said in a filing to the Bombay Stock Exchange (BSE).
Shares of Titan closed at Rs 3,400.45 on the BSE today, down 1.22% from its previous close.