S Krishnan appointed additional director to Titan board, as TIDCO changes nominee, Retail News, ET Retail

New Delhi: The board of directors of watch and jewelry maker Titan has approved the appointment of S Krishnan, Additional Chief Secretary, Department of Industries, Government of Tamil Nadu, as an additional director. His appointment replaces N Muruganandam, a candidate of Tamil Nadu Industrial Development Corporation Limited (TIDCO) – co-promoter of the Titan, with effect from December 10, 2021.

“S Krishnan will exercise his functions until the date of the next annual general meeting at which his appointment as director, likely to retire by rotation, will be subject to the approval of the shareholders,” he said. He specifies.

Krishnan is a Batch IAS Officer in 1989, who has held many key positions in various departments of the Tamil Nadu government and the Indian government.

Regarding Muruganandam’s resignation, the company said: “The co-promoter of the TIDCO company withdrew the appointment of N Muruganandam. Therefore, he resigned from the board of the company,” he said. .

Titan was established in 1984 as a joint venture between the Tata Group and the state government of Tamil Nadu. While the Tata Group owns a 25.02 percent stake, the state government holds a 27.88 percent stake in the company. PTI KRH MKJ MKJ