annual-report-FY2020

MAHINDRA & MAHINDRA LIMITED 15 in the scale of Rs. 18,00,000 to Rs. 30,00,000 per month, and his re-appointment as Managing Director of the Company designated as “Managing Director and Chief Executive Officer” of the Company with effect from 12 th November, 2020 to 1 st April, 2021, on a basic salary in the scale of Rs. 18,00,000 to Rs. 30,00,000 per month. Profile: Dr. Goenka has completed 65 years of age. Dr. Pawan Goenka has earned his B. Tech. in Mechanical Engineering from IIT, Kanpur and Ph.D. from Cornell University, U.S.A. He is also a Graduate of Advanced Management Program from Harvard Business School. He worked at General Motors R&D Centre in Detroit, U.S.A. from 1979 to 1993. Thereafter, he joined Mahindra & Mahindra Ltd., as General Manager (R&D). During his R&D tenure he led the development of the Scorpio SUV. He was appointed COO (Automotive Sector) in April 2003, President (Automotive Sector) in September 2005, President (Automotive & Farm Equipment Sectors) in April 2010. Dr. Pawan Goenka was first appointed as an Executive Director and President (AFS) on the Board of the Company on 23 rd September, 2013, Executive Director and Group President (AFS) in April 2015, Managing Director of Mahindra & Mahindra Ltd. in November 2016 and designated as Managing Director & CEO on 1 st April, 2020. Dr. Goenka is also a member of the Group Executive Board and serves on the board of several Mahindra Group Companies. Dr. Goenka received the Extraordinary Accomplishment Award from General Motors in 1986, the Burt L. Newkirk Award for the year 1987, the Charles L. McCuen Achievement Award from General Motors for the years 1985 & 1991, an Outstanding International Advisor Award from SAE in 1997, and a Distinguished Alumni Award from IIT, Kanpur in 2004. He received the Engineering Excellence Award 2012 from SAE India Foundation. He is a Fellow of SAE International and of The Indian National Academy of Engineers. In January 2011, Dr. Pawan Goenka was honoured with the Automotive Man of the Year award at the NDTV Car & Bike Awards. In December 2011, Dr. Goenka featured as Autocar Professional’s Man of the Year 2011. He was conferred the ‘CV Man of the Year’ award at the annual Apollo CV Awards 2012 in recognition of his extensive contribution within the automotive industry in India and globally. Dr. Goenka was conferred with the Doctor of Science (honoris causa) by IIT, Kanpur in 2015. Dr. Goenka has been awarded the 2016 FISITA Medal of Honour, which is bestowed for his ‘particularly distinguished achievement and leadership in the global automotive industry’ and is the first Indian to receive this prestigious recognition. In February 2020, he was presented with the Lifetime Achievement Award by Car India & Bike India Awards 2020 for his leadership and commitment towards the progress of the Indian Automotive Industry. Dr. Goenka is past President of SIAM, of the Society of Automotive Engineers India, the ARAI Governing Council, and also served as a Board Member of National Skills Development Corporation (NSDC). He is currently a National Council Member of Confederation of Indian Industries (CII) and Chairman of its Manufacturing Council. He is currently serving as the Chairman of the Board of Governors of IIT, Madras. Dr. Goenka is the Chairman of Mahindra Vehicle Manufacturers Limited, Mahindra Electric Mobility Limited, Mahindra Agri Solutions Limited, SsangYong Motor Company, Mahindra Racing UK Limited, Mahindra Automotive North America Inc. and Automobili Pininfarina GmbH. He is the Managing Director and Chief Executive Officer of Mahindra & Mahindra Limited and also on the Boards of Swaraj Engines Limited and New Democratic Electoral Trust. Dr. Goenka is a Chairman/Member of the following Board Committees: Sr. No. Name of the Company Name of the Committee Position Held 1. Mahindra & Mahindra Limited Risk Management Committee Chairman Corporate Social Responsibility Committee Member Loans & Investment Committee Member Stakeholders Relationship Committee Member Research & Development Committee Member Sale of Assets Committee Member 2. Mahindra Vehicle Manufacturers Limited Strategic Investments Committee Chairman Corporate Social Responsibility Committee Member Nomination and Remuneration Committee Member 3. Mahindra Electric Mobility Limited Nomination and Remuneration Committee Member 4. Ssangyong Motor Company Management Committee Chairman Outside Director Candidate Recommendation Committee Member 5. Mahindra Agri Solutions Limited Nomination and Remuneration Committee Member Allotment Committee Member Dr. Goenka holds 79,188 Ordinary (Equity) Shares in the Company. The Explanatory Statement may be considered as a written Memorandum setting out terms, conditions and limits of remuneration of Dr. Pawan Goenka in terms of section 190 of the Act. During the year 1 st April, 2019 to 31 st March, 2020, six Board Meetings of the Company were held, and Dr. Goenka had attended all the six Meetings. Pursuant to sections 196, 197, 198 and all other applicable provisions of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 [including any statutory modification(s) or re-enactment(s) thereof for the time being in force] read with Schedule V of the Act, the revision in remuneration payable to Dr. Goenka, his re-appointment as well as his re-designation are now