Titan’s CFO S Subramaniam will retire from the company effective June 30. Former L&T Infotech CFO Ashok Kumar Sonthalia will succeed Subramaniam effective July 1. Sonthalia joined the lifestyle brand on February 1 and will be the CFO designate until his appointment becomes effective from July 1. Sonthalia is a chartered accountant with around 30 years of experience. His previous stints include leadership positions in Greaves Cotton, Tata, Tata Chemicals and a long-standing association with Tata Steel in various positions.
C K Venkataraman, MD of Titan, said, “Over the last decade, Subbu has been a solid member of the top team at Titan. As CFO, he has enabled the extraction of greater value from the businesses, managed the balance sheet exceptionally well, dealt with multiple regulatory shocks with aplomb, established very strong internal control processes through the introduction of the operations control group, made investor relations a benchmark practice and created a truly A-team in the finance department.”
Titan CHRO R Rajnarayan will retire from the company on June 30. He will be replaced by Swadesh Behera effective July. Behera joined Titan from Boston Scientific Corporation (BSC). His previous stints include Ranbaxy and Coca Cola.