Ashok Kumar Sonthalia has been appointed as the new chief financial officer if Tata Group-owned Titan Company. As per an Economic Times report, Sonthalia will join the company on February 1. He will succeed S. Subramaniam with effect from July 1. This announcement comes as Subramaniam, the current CFO, is due to retire from Titan with effect from June 30.
Sonthalia's last stint was with Larsen & Toubro Infotech as CFO. His previous roles include leadership positions in Greaves Cotton Limited, Tata Inc., Tata Chemicals and Tata Steel in various positions. He is a chartered accountant with about 30 years of experience in areas of strategic financial planning, business development, M&A, treasury and finance and accounts.
In the second quarter ended September, Titan Company reported an 1.8% increase in net profit to Rs 320 crore. The maker of watches, jewellery, eyewear and apparel had reported a 0.6% increase in revenue to Rs. 4435 crore.
