Noida-based timewear major Timex Group has appointed existing president G Kannan as new managing director of the company. He replaced Kapil Kapoor who has taken charge of the vice president of the company, according to a company press release.
Prior to joining Timex, Kannan was the country manager in India for the Swatch Group and was responsible for all India operations for brands like Omega, Longines, Rado, Blancpain, Tissot and Swatch.
On Kannan’s appointment, Kapil Kapoor, senior vice president — Asia Pacific and vice chairman, Timex Group India Ltd said, “We are delighted to have a seasoned watch industry professional like Kannan take over charge as the managing director. We are confident that with his expertise and experience, Timex would continue on its growth trajectory, with its strong multi-brand portfolio and a robust profit model in place. We hope to consolidate our entry into the luxury segment in the next one year.”
Meanwhile, the Group also declared its financial results which saw a year-to-date PAT of Rs 94 million, 86 per cent up from its corresponding amount in last year, added the release.
— IndiaRetailing Bureau