The pivot point - Tata Motors
The pivot point - Tata Motors
The pivot point - Tata Motors
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14<br />
<strong>The</strong> <strong>pivot</strong> <strong>point</strong><br />
Our philosophy on corporate<br />
governance is founded on a rich legacy<br />
of fair, ethical and transparent<br />
governance practices, many of which<br />
were in place even before they were<br />
mandated. We have adopted highest<br />
standards of professionalism, honesty,<br />
integrity and ethical behaviour, and<br />
incorporated them in our way of<br />
conducting business. Through this<br />
robust governance mechanism, the<br />
Board along with its committees<br />
undertakes its fiduciary<br />
responsibilities to all its stakeholders.<br />
We continue to strengthen our<br />
corporate governance practices<br />
through implementation of specific<br />
models and methods. <strong>The</strong> <strong>Tata</strong><br />
Business Excellence Model (TBEM) is a<br />
means to drive business excellence and<br />
also track progress on long term<br />
strategic objectives. <strong>The</strong> TCoC<br />
articulates values, ethics and business<br />
principles guiding our Board and<br />
employees on ethical behaviour. It also<br />
acts as an appropriate mechanism to<br />
report and address concerns<br />
pertaining to non-adherence to the<br />
code. We are in full compliance with the<br />
requirements under Clause 49 of the<br />
Listing Agreement with the Indian<br />
Stock Exchanges. Our risk<br />
management and internal control<br />
functions are geared up to meet the<br />
requirements of progressive<br />
governance standards.<br />
<strong>The</strong> Board of Directors along with its<br />
Committees provides leadership and<br />
guidance to our management and<br />
directs, supervises and controls our<br />
performance. Mr. Carl-Peter Forster<br />
was ap<strong>point</strong>ed as <strong>Tata</strong> <strong>Motors</strong> Group<br />
CEO & Managing Director with effect<br />
from 01 April 2010. <strong>The</strong> Board<br />
currently comprises of 13 Directors,<br />
out of which 10 are non-executive.<br />
To address the various governance<br />
requirements we have the following<br />
committees: Audit Committee,<br />
Remuneration Committee, Investors’<br />
Grievance Committee, Executive<br />
Committee, Ethics and Compliance<br />
Committee and Nominations<br />
Committee. We have health, safety and<br />
environment committees at each of<br />
the plants. A steering committee<br />
headed by the Managing Director<br />
tracks safety, health and environment<br />
performance, addresses issues and<br />
identifies areas of improvement on a<br />
monthly basis. Our enterprise risk<br />
management (ERM) framework maps<br />
the strategic, operational, financial and<br />
governance risks related to the<br />
business strategy and assesses<br />
potential weaknesses in the internal<br />
processes. Detailed information on<br />
committees of the Board and their<br />
functioning can be sourced from our<br />
2010-11 Annual Report 5 .<br />
5Annual Report Page 42 - http://tatamotors.com/investors/<br />
annualreports-pdf/annual-report-2010-11.pdf<br />
* Ceased to be a Director w.e.f September 1, 2010<br />
Name of the Director<br />
Mr. Ratan N <strong>Tata</strong><br />
Mr. Ravi Kant<br />
Mr. J J Irani<br />
Mr. R Gopalakrishnan *<br />
Mr. N N Wadia<br />
Mr. S M Palia<br />
Mr. R A Mashelkar<br />
Mr. S Bhargava<br />
Mr. N Munjee<br />
Mr. V K Jairath<br />
Mr. R Sen<br />
Mr. Ralf Speth<br />
Mr. Carl - Peter Forster<br />
Mr. P M Telang<br />
Position of Responsibility<br />
Non Executive Chairman<br />
Non Executive , Vice Chairman<br />
Non Executive<br />
Non Executive, Independent<br />
Non Executive, Independent<br />
Non Executive, Independent<br />
Non Executive, Independent<br />
Non Executive, Independent<br />
Non Executive, Independent<br />
Non Executive, Independent<br />
Non Executive, Independent<br />
Non Executive<br />
Group CEO and Managing Director<br />
Managing Director - India Operations