Tech Mahindra Wins Golden Peacock Global Award for Excellence in Corporate Governance 2018

Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services and solutions has won the coveted Golden Peacock Global Award for Excellence in Corporate Governance – 2018 instituted by Institute Of Directors, Delhi (IOD).

The award will be presented at the ‘Golden Peacock Awards Presentation Ceremony’, being held on Thursday, 25thOctober 2018, at London (UK) in the presence of a distinguished gathering of business leaders during IOD’s  “18thAnnual London Global Convention on Corporate Governance& Sustainability” and ‘Global Business Meet’, being held on 24 – 27 October, 2018.

The Golden Peacock Awards are regarded as a benchmark of Corporate Excellence worldwide. The awards aim to promote business excellence by providing a Framework or Criteria for assessment that is based on similar principles as other awards throughout the world and contains all of the requirements of the ISO 9001:2000 standard series.

Tech Mahindra is ranked among the top 5 IT service providers in India, offering total range of IT services and industry specific solutions in 90 countries with annual revenue of USD 4.9 Billion in FY 2017-18. Its Board has 9 Directors, out of whom 5 are Independent Directors including 1 Woman Director. The company has developed a tool internally called as ‘Board Room Portal’ which has all the required information like Notice for Meetings, Agenda, Minutes of the Meetings, Financial Information and Press releases. The Company has developed unique set of Overarching Principles of Corporate Governance that ensures advantage over other competitors and focuses on ensuring the basics of an effective Corporate Governance framework; the rights of shareholders and key ownership functions; the equitable treatment of shareholders; the role of stakeholders in Corporate Governance and disclosures and transparency, said Mr. Manoj K. Raut, CEO & Director, Institute Of Directors, India.

Every year, the Awards Secretariat receives around 1000 applications for various categories of awards which are evaluated following a three-tier evaluation process. Tech Mahindra has been adjudged winner on the basis of a rigorous assessment on varied parameters including the organization’s performance against the GPA Framework, evaluated by an independent Grand Jury under the Chairmanship of Justice (Dr.) Arijit Pasayat, former Judge, Supreme Court of India.

“At Tech Mahindra, it has been our constant endeavor to incorporate the highest standards of corporate ethos and governance in our practices. I would like to thank the jury of Golden Peacock Awards for honouring Tech Mahindra with this prestigious award.,” said Manoj Bhat, Chief Financial Officer, Tech Mahindra.

This year, the Secretariat received 208 responses in this particular category. Out of which, after careful scrutiny, 91 applications were shortlisted for final selection through a 3 tier Assessment Process. The Quality of Shortlisted Entries evidenced the amount of commitment to strive for excellence and desire to maintain high level of quality to achieve world-class status. The applications were assessed on an exhaustive set of self-assessment parameters, for a total score of 1000 marks. Final cut-off of 80 percent marks was applied universally. The applicant scoring the highest, among each of the respective Industrial Sectors, was finally recommended to the Jury for final selection.

 Recently, Tech Mahindra was also recognized as one of the seven Indian organizations in the prestigious Forbes Asia Fab 50 List 2018.As part of its TechMNxt charter,Tech Mahindra continues to build and invest in next generation technologies like AI, Blockchain, Cybersecurity & AI-powered IoT solutions, to address the evolving and dynamic needs of customers and partner ecosystem.

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