Celebrating India’s Best Board :
C K Venkataraman wins Champion of Champions
On steps taken to keep the company moving
One of the central philosophies that defines Titan is the multiple stakeholder focus of the company. In April of 2020, many of the senior management members were new in their roles, including me. I had been MD for just six months, and we were staring at the worst loss in the history of the company ever in quarter one of FY21. But we were unfazed by it because of the multiple stakeholder focus. So, we put in the employee, distributors, vendor partners, off role employees, franchise and their employees first, instead of getting worked up about the losses the company is going to make. In a way, we dealt with all those stakeholders through that lens. But there was no rule change even during the pandemic. Of course, due to the nature of the situation the frequency of the conversation became almost monthly. We started making monthly reports of the cash situation, which would have been a quarterly practice in normal times.