Meet Ajoy Chawla to become MD in Ratan Tata's company? as CEO, he took Titan to new heights
Ajoy Chawla is currently handling the Titan's jewelry division and has been appointed as the new Managing Director (MD) now. He will assume the new role on January 1 after the retirement of the current MD, C.K. Venkataraman, on December 31. Venkataraman is retiring as per Tata Group's age policy.
Ajoy Chawla became the CEO of Titan's jewelry division in 2019. Under his leadership, the jewelry segment performance grew by 2.5x in both sales and profits. It also became a market leader in the jewelry industry. Shareholder Approval
Chawla's appointment as MD is subject to shareholder approval. The company may complete this process to on board him and formalize his new role. A search for a new CEO for the jewelry division will also start soon.
Current MD Venkataraman expressed confidence in Chawla's leadership, stating, 'On behalf of the Titan team, I welcome Ajoy to this role. He has a deep understanding of customers, collaborates effectively with people, and focuses on creating value. I am confident that he will take Titan to new heights.' Who Is Ajoy Chawla?
Ajoy Chawla' is part of the Tata Group since 1990 through the Tata Administrative Services (TAS). In 1991, he joined Titan's finance department and later worked there for nearly twenty years in the watches division, handling sales, marketing, supply chain, and SAP operations. He also worked in the accessories and licensed brands department. Later on he became the head of Titan SBU's domestic and international operations.
Between 2013 and 2019, Chawla was Titan's Chief Strategy Officer. During this time, he launched new businesses and expanded the perfumes segment. Titan Q4 Results
Tata group firm Titan Company on Thursday reported a 13 per cent increase in its consolidated profit after tax at Rs 871 crore in the March quarter, driven by robust sales.
The company had posted a profit after tax (PAT) of Rs 771 crore for the January-March period of FY24.
Total income increased to Rs 14,049 crore for the fourth quarter as compared with Rs 11,472 crore in the year-ago period, the company said in a regulatory filing.
For FY25, Titan reported a PAT of Rs 3,337 crore, a decline of 5 per cent, against Rs 3,496 crore in FY24.
Total income increased to Rs 57,818 crore last fiscal from Rs 47,501 crore in FY24.
(With Inputs From PTI)
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