Big companies in India often compensate their top leadership with lucrative packages, and Titan Company is no exception. The Tata-backed watchmaker has paid its Managing Director, C K Venkataraman, a total remuneration of Rs 12.50 crore for the financial year 2023-24. Venkataraman, an alumnus of the prestigious IIM Ahmedabad, has been a key figure at Titan since 1990, amassing over three decades of experience in the industry. His journey began as the Advertising Manager, and over the years, he has held various positions in Marketing and Sales within the Watches Division.
In October 2019, he was promoted to the role of Managing Director, a position he will hold until December 2025. Venkataraman’s remarkable contribution is reflected in the company’s impressive revenue growth during his tenure as MD. The consolidated revenue of Titan Company increased significantly from Rs 21,052 crore in FY 2019-20 to Rs 51,084 crore in FY 2023-24. His leadership has undoubtedly played a crucial role in this impressive expansion.
His remuneration package includes a substantial variable pay component, amounting to 500 per cent of his annual salary. This makes his total remuneration for FY 2023-24, an 8 per cent increase compared to the Rs 11.44 crore he received in FY 2023. In addition to the variable pay, he also receives a basic salary of Rs 1.62 crore and perquisites and allowances worth Rs 2.69 crore. Further to his remuneration, the company granted 46,000 Performance Based Stock Units (PSUs) to Venkataraman under the PSU Scheme 2023 during the FY 2023-24.
Venkataraman’s journey began in Coimbatore, Tamil Nadu, where he completed his Bachelor’s degree in Mathematics. After gaining initial work experience, he pursued his PGDM from IIM Ahmedabad in 1985, solidifying his foundation for a successful career in the corporate world. His extensive experience and expertise have made him a valuable asset to Titan Company, and his contribution to the company’s growth and success is undeniable.
