After retiring from his position as a Managing Director of Mahindra and Mahindra in April, Dr Pawan Goenka has now joined Bosch as an independent director. The 66-year-old has been signed for a period of 5 years
Dr Pawan Goenka has joined the board of Bosch as an independent director. This announcement comes a month after the veteran retired from his position as the Managing Director of Mahindra and Mahindra on 2nd April 2021. The 66-year-old has been signed by Bosch for five years starting 21st May 2021.
After graduating from IIT Kanpur in mechanical engineering, and earning a PhD from Cornell University, Dr Goenka started his career at General Motors’ R&D centre in Detroit in 1979. He moved to Mahindra as a General Manager (R&D) in 1993 and has been the man behind the development of extremely successful cars like the Scorpio. In fact, for his efforts in the development of the SUV, he is lovingly called the ‘Father of the Scorpio’. Dr Goenka spent 27 years with Mahindra before retiring last month.
Aside from the appointment of Dr Goenka, Bosch also announced a few more changes in the leadership. Bernhard Straub, Chairman resigned from his position due to a change in his responsibility at a global level. Straub was appointed as Chairman in August 2019.
In addition to these announcements, Bosch also announced their financial results for the quarter ending March 2021. The company posted a net profit of Rs 481.95 crore in Q4 FY21, which is considerably higher than the Rs 81.14 crore in Q4 FY20. The tech and engineering firm also recorded a massive rise in the profit before tax (PBT) in the fourth quarter of FY21. In light of the announcements made today, the company’s stock price rose 7.51% and currently stands as Rs 15,906.55 at the close of business hours today.