Page 274 - Tata_Chemicals_yearly-reports-2017-18

during the normal business hours on any working day (except The principal terms and conditions of Mr. Langrana’s appointment as
Saturday) and will also be kept at the venue during the AGM. The the Executive Director (hereinafter referred to as ‘Mr. Langrana’ or the
same shall also be made available on the website of the Company at ‘the Executive Director’) are as follows:
www.tatachemicals.com
Period of Appointment: From 1 April, 2018 upto 31 March, 2023
Accordingly, the Board commends the Ordinary Resolution as set (both days inclusive).
out at Item No. 5 of the accompanying Notice in relation to the
Duties and Powers
appointment of Ms. Kaicker as an Independent Director for a period
of 5 years commencing from 1 April, 2018 to 31 March, 2023 for the (i) The Executive Director shall devote his whole time and attention
approval of the Members. to the business of the Company and carry out such duties as
may be entrusted to him by the Managing Director and/or the
Except Ms. Kaicker, none of the Directors or Key Managerial Personnel
Board from time to time and separately communicated to him
(KMP) of the Company and their relatives is concerned or interested,
and exercise such powers as may be assigned to him, subject
financially or otherwise, in the resolution set out at Item No. 5 of the
to superintendence, control and directions of the Board in
accompanying Notice. Ms. Kaicker is not related to any other Director
connection with and in the best interests of the business of the
or KMP of the Company.
Company and the business of any one or more of its associated
Item Nos. 6 and 7 companies and/or joint ventures and/or subsidiaries, including
performing duties as assigned by the Managing Director and/
At the Board Meeting of the Company held on 23 March, 2018,
or the Board from time to time by serving on the boards of
the Board had, based on the recommendations of the Nomination
such associated companies and/or joint ventures and/or
and Remuneration Committee and subject to the approval of the subsidiaries or any other executive body or any committee of
Members, appointed Mr. Zarir Langrana as Executive Director of the
such a company.
Company for a period of 5 years commencing from 1 April, 2018 to
31 March, 2023, in accordance with the provisions of Sections 196 and (ii) The Executive Director shall not exceed the powers so
197 read with Schedule V of the Act. delegated by the Managing Director and/or Board pursuant to
clause (i) above.
Mr. Langrana was appointed as an Additional Director of the
Company with effect from 1 April, 2018 by the Board of Directors. In (iii) The Executive Director undertakes to employ the best of his
terms of Section 161(1) of the Act, Mr. Langrana holds office upto the skills and abilities to make his utmost endeavours to promote
date of this Annual General Meeting but is eligible for appointment the interests and welfare of the Company and to conform
as a Director. The Company has received a Notice from a Member in to and comply with the directions and regulations of the
writing under Section 160(1) of the Act proposing his candidature for Company and all such orders and directions as may be given
the office of Director. to him from time to time by the Managing Director and/or the
Board.
Mr. Zarir Langrana, aged 59 years, heads the Global Chemicals Business
of the Company and is responsible for operations and growth of the Remuneration
inorganic chemicals business and the new ventures in Nutritional
A. Salary: ` 5,00,000 per month in the scale of ` 5,00,000 to
Solutions and Silica.
` 8,00,000 per month. The annual increments which will be
In the past, Mr. Langrana has headed the global marketing and effective 1 April each year (starting from April 2019) will be
strategy function overseeing and directing all sales and marketing decided by the Board based on the recommendations of
plans, developments, growth and new product activities and the Nomination and Remuneration Committee and will be
processes in these two areas for its global chemicals business across merit-based and take into account the Company’s performance
the four continents where it operates. In addition, Mr. Langrana has as well.
led the post-merger integration programmes within the chemical
B. Benefits, Perquisites, Allowances: In addition to the basic
business. In the past, he headed the corporate strategy and business
salary referred to in (A) above, the Executive Director shall be
development function and has been a key player in the global inorganic
entitled to:
growth of the business and in the M&A process. He has been with
Tata Chemicals for over thirty years, having been inducted through the (i) Rent-free residential accommodation (furnished or
Tata Administrative Services. otherwise) with the Company bearing the cost of
repairs, maintenance, society charges and utilities
Mr. Langrana is an economics graduate from the University of Madras
(e.g. gas, electricity and water charges) for the said
and holds a post graduate qualification in business management from
accommodation.
XLRI, Jamshedpur. Mr. Langrana has attended advanced executive
development programmes at Harvard Business School and other OR
institutions.
House Rent, House Maintenance and Utility Allowances
Mr. Langrana is an active participant in various industry bodies and aggregating 85% of the annual basic salary in case
trade associations in the country and abroad. He serves on the Board residential accommodation is not provided by the
of overseas subsidiaries of the Company. Company.

272 Annual Report 2017-18