Hosur Titan watch and jewelry maker gets new additional director

Titan was set up in 1984 as a joint venture between the Tata Group and the Tamil Nadu state government. While the Tata Group owns a 25.02 per cent stake, the state government owns a 27.88 per cent stake in the company.

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TitanHosur-based watch and jewellery maker Titan’s board has approved the appointment of Mr S Krishnan, Additional Chief Secretary, Industries Department of Tamil Nadu as an additional director.

His appointment comes in place of Mr N Muruganandam, a nominee of the Tamil Nadu Industrial Development Corporation Limited (TIDCO) — co-promoter of the Titan, with effect from December 10, 2021, according to a filing by the company to Bombay Stock Exchange (BSE).

“S Krishnan will hold office up to the date of the next Annual General Meeting wherein his appointment as a director, liable to retire by rotation, will be placed before the shareholders for their approval,” the BSE filing said.

On Mr Muruganandam resignation, Titan said: “The co-promoter of the company TIDCO has withdrawn the nomination of N Muruganandam. Hence, he has resigned from the board of the company,” it said.

Profile

Being 1989 Batch IAS Officer, Mr S Krishnan has held many important positions in various departments in the state and central governments. Presently,  he is the Additional Chief Secretary, Industries Department. During his career spanning more than 32 years, he has held key positions of Sub collector, Cuddalore, Collector Viruthunagar, Managing Director Tamilnadu Text Book Corporation, Member Secretary, Sports Development Authority and Chairman, Fifth State Finance Commission and CEO, Tamilnadu Infrastructure Board. He worked in Government of India as Secretary to Finance Minister and Senior Advisor, Office of the Executive Director for India, Sri Lanka, Bangladesh and Bhu tan, International Monetary Fund, Washington DC.

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