Titan Company Limited, a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), announced the appointment of new Chief People Officer and Chief Finance Officer.
While Swadesh Behera has taken charge as Chief People Officer, Titan Company Limited has appointed Ashok Sonthalia as its new Chief Financial Officer (CFO). Both these appointments is effective from 1st July 2021.
Sonthalia is a Chartered Accountant with around 30 years of experience in areas of strategic financial planning, business development & treasury, finance & accounts in diverse industry verticals in multi-cultural and multi-national environments.
Commenting on his appointment, Ashok Sonthalia said it is an absolute honor and privilege to be a part of Titan, a company he has long admired for evoking trust and transforming consumer retail experience in India.
“I am looking forward to working with the team here on executing its strategic growth plans in India as well as in select international markets. Its philosophy of creating value for all its stakeholders will remain central in all our endeavors,” said Ashok Sonthalia.
Ashok Sonthalia is a Chartered Accountant, has done a one-year management programme from XLRI, Jamshedpur and has completed General Management Program from CEDEP, Fontainebleau, France. He has close to 30 years of extensive and rich global experience in the areas of Strategic Business Planning, Financial Accounting and Reporting, Taxation, Treasury, Investor Relations and Mergers & Acquisitions.
Previously, he has served in several finance leadership roles in Larsen & Toubro Infotech Ltd., L&T Power, Greaves Cotton Limited and Tata Group Companies – Tata Steel Limited, Tata Inc. (USA), and Tata Chemicals Limited. Ashok Sonthalia has been a recipient of several prestigious awards such as CFO Award for Large Enterprises from Financial Express in 2018 and winner of ICAI – CFO of the Year for Information Technology Sector for year 2016.
He was also recognized as one of the Best CFO for the Technology / IT Services & Software Sector for the last two consecutive years in the institutional Investor’s 2020 and 2021 All- Asia Executive Team Survey by the Sell Side category.
Swadesh Behera said he is delighted to join Titan and be a part of a leadership team which truly believes in putting people first in everything they do, where employee care and happiness is valued as much as the business growth.
“Looking forward to working with the team whose continuous endeavour has been to build a strong leadership pipeline, future capabilities, an inclusive culture to propel the growth aspirations and making Titan as an employer of choice,” said Swadesh Behera.
Prior to this, Swadesh Behera was Senior Director–HR at Boston Scientific Corporation (BSC). His previous stints include Ranbaxy, Coca Cola, MSD and Tata Steel. He has extensive change management experience which encompasses setting up Greenfield operations, building capability, talent acquisition during high growth phases of business,
implementing appropriate HR interventions, Employee Transition Management during business closures and many other initiatives and programmes. Analytical skills, Business Acumen, Process Orientation, and Strong Inter-Personal skills are some of his key strengths.
Titan Company Limited commenced its operations in 1987 under the name Titan Watches Limited. In 1994, Titan diversified into Jewellery and subsequently into Eyewear. Over the last three decades, Titan has expanded into
underpenetrated markets and created lifestyle brands across different product categories including fragrances (SKINN), accessories and Indian dress wear (TANEIRA).
Titan is widely known for transforming the watch and jewellery industry in India and for shaping India’s retail
market by pioneering experiential retail. The Company recorded a revenue of Rs. 21,644 crore for the year ended 31st March 2021.