T. S. Kalyanaraman – Newly Minted Billionaire
January 24, 2013 Leave a comment
As per Bloomberg’s calculation T. S. Kalyanaraman ,Chairman and Managing Director of Kalyan Jewellers, the largest jewellery chain in India, is now a billionaire.This is his response to the news:“I don’t calculate my net worth.I am more keen to trade, develop my brand, but you may be right.”
Here is his story in his own words:
“My family has been in business for the last 110 years. It was my grandfather, T. S. Kalyanaramaiyer who first moved away from priesthood and became a businessman.He moved from Kumbakonam to Thrissur to start a textile mill. I think it was in the 1930s that the mill was taken over by the government and that was when he decided to start a textile shop.Later, my father Seetharamaiyer joined him followed by myself and my four brothers. Now, my sons also have joined the business. Read more of this post
Yesterday,ie on 28th of December 2012, on his birthday,when he turned 75, Ratan Tata retired,succeeding on his third try.In 2002, when Tata was to retire at 65, the Tata Sons board promptly re-designated him non-executive chairman, which meant he could continue for another five years.Three years later, the board upped the retirement age of non-executive directors to 75. The message was clear: Ratan Tata was indispensable.And it was not just the board that felt that way. There were loud cries of support from shareholders. As one shareholder put it”We can’t lose our ratan (jewel).”Others asked him to stay on as chairman emeritus. 
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