June 13, 2021

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Bosch Ltd appoints Pawan Goenka as independent director

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Known for driving the development of Scorpio and several other popular sport utility vehicles (SUVs) at M&M, Goenka is credited with building a strong research and development (R&D) and a wide product portfolio for the company.

Amit Panday

Pune: Bosch Ltd has appointed Pawan Kumar Goenka, 66, as an independent director for a period of five years, the company said in a regulatory filing Thursday.

“Based on the recommendations of the nomination and remuneration committee and subject to the approval of shareholders, the Board of Directors approved the appointment of Dr. Pawan Kumar Goenka as an additional director designated as an independent director for a period of five years with effect from May 21, 2021 till May 20, 2026,” the company said.

After an illustrious career in the automotive industry spanning more than four decades, Goenka had retired from Mahindra and Mahindra Ltd (M&M) as managing director and chief executive officer on April 1, 2021. Known for driving the development of Scorpio and several other popular sport utility vehicles (SUVs) at M&M, Goenka is credited with building a strong research and development (R&D) and a wide product portfolio for the company.

Markus Bamberger is new Chairman of the Board

Among other top-level appointments, Bosch has also appointed Markus Bamberger as an additional director designated as a chairman of the Board with effect from June 01, 2021. Bamberger, who has worked for more than 20 years at the Merck Group, has been serving Robert Bosch GmbH as head of compliance management for the past two years.

The German automotive component supplier has also announced re-appointment of S.V. Ranganath, 68, as an independent director for a second term of three years with effect from July 1, 2021. A retired IAS, Ranganath has worked as a civil servant in various capacities for the Government of India as well as for the government of Karnataka.

It has also appointed Bhaskar Bhat as lead independent director for three years from May 21, 2021. His appointment is in relation to corporate governance practices.

Meanwhile, Bernhard Straub and Bernhard Steinruecke have resigned from their respective positions and are relieved from close of business hours on May 20. Serving as the chairman and director at Bosch Ltd, Straub has moved out due to change in area of his responsibilities at global level, the company said.

It also added that Steinruecke has moved on from his role as an independent director due to preoccupation.

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