Titan Co picks three CEO candidates; CK Venkataraman to step down in 2025

Ajoy Chawla, CEO of jewellery business; Suparna Mitra, who heads watches and wearables segment; and Saumen Bhaumik, overseeing the eyecare business, have been picked as contenders for CEO

Titan Company finds itself struggling with another leadership transition, marking the fourth instance in its 40-year history, as the Tata Group subsidiary initiates the search for a new chief executive officer (CEO) prior to the imminent departure of its third CEO, C K Venkataraman, according to a report in Moneycontrol.

Current CEO C K Venkataraman has been granted an extension for a second term spanning 14 months until December 2025. Assuming the position on 1 October 2019, Venkataraman, who will turn 65, the group's retirement age, on 30 October next year, will supervise the transition process before stepping down from his role.

As the upcoming vacancy looms, the focus shifts to three individuals emerging as potential candidates.

According to a report in Mint, Ajoy Chawla, the CEO of the jewellery business; Suparna Mitra, who heads the watches and wearables division; and Saumen Bhaumik, overseeing the eyecare business, have been recognised as contenders by Titan's board.

Over the next few months, the 13-member board will subject these candidates to rigorous evaluation as Titan Company Limited gears up for a smooth leadership transition. The selection procedure will play a pivotal role in deciding who will lead the company, maintaining its tradition of innovation and growth within the Tata Group.

Last week, it was reported that Apple is in talks with the Murugappa Group and Tata Group's Titan Company to assemble and produce sub-components for iPhone camera modules. Currently, the tech giant does not have Indian suppliers for the camera module integrated into its iPhones, despite the assembly of several models in India.

Titan Company Limited reported a profit of Rs 786 crore in the quarter ending on 31 March, up 7.1 per cent year-on-year from the same period last year (Q4FY23). The company reported a net profit of Rs 734 crore during the same period last year.

The company reported a 17 per cent increase in revenue for the quarter, reaching Rs 10,047 crore compared to Rs 8,553 crore the previous year.