Titan appoints S Krishnan as additional director on board
Jewellery and watch business Titan has appointed the Tamil Nadu state government’s additional chief secretary S Krishnan as an additional director on its board.
Krishnan’s appointment came into effect on December 10, ET Bureau reported.
“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,” Titan said in a statement, the Press Trust of India reported.
S Krishnan will replace N Muruganandam in his new role. Muruganandam was on the board as a nominee of Titan’s co-promoter, Tamil Nadu Industrial Development Corporation Limited.
“The co-promoter of the company TIDCO has withdrawn the nomination of N Muruganandam,” said Titan. “Hence, he has resigned from the board of the company.”
In his career, Krishnan has held a number of key positions in the Tamil Nadu government. The official is a 1989 Batch IAS Officer.
Founded in 1984, Titan is a joint venture between business Tata Group and the Tamil Nadu state government. Tata Group holds a 25.02% stake in Titan and the Tamil Nadu government holds a 27.88% stake in the jewellery business.
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