This example adds a chart title to embedded chart one on Sheet1 and then sets the font size and background type for the title.
With Worksheets("Sheet1").ChartObjects(1).Chart
.HasTitle = True
.ChartTitle.Text = "1995 Rainfall Totals by Month"
With .ChartTitle.Font
.Size = 10
.Background = xlBackgroundTransparent
End With
End With