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The company’s board on the recommendations of nomination & remuneration committee decided to split the role between managing director (MD) and CEO and accordingly appointed Venkatesh Vijayaraghavan as CEO.
Vijayaraghavan will report to the current MD – Chandru Kalro and will perform such functions as are delegated to him, stated the company.
This change in management will take effect on Venkatesh Vijayaraghavan joining the company, which is expected to take place during January 2024. Going forward, the MD will focus on company’s strategic plan, actively managing and creating value to the subsidiaries and identify opportunities for growth through innovation, organic and inorganic routes.
Vijayaraghavan has a journey of over 27 years spanning across FMCG, telecom and manufacturing. His last stint has been with CavinKare as CEO& board director for a period of 5 years.
TTK Prestige is an Indian company that manufactures kitchen appliances and cookware, under the Prestige and Judge brand. The company is best known for its pressure cookers.
The company’s consolidated net profit declined 29.3% to Rs 59.27 crore on 13.4% decreased in net sales to Rs 729.47 crore in Q2 FY24 over Q2 FY23.
Shares of TTK Prestige rose 0.33% to currently trade at Rs 742.05 on the BSE.
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