Companies

Marc Llistosella to be CEO and MD of Tata Motors from July 1

Our Bureau Mumbai | Updated on February 13, 2021

Marc Llistosella

Tata Motors on Friday said Marc Llistosella has been appointed Chief Executive Officer and Managing Director of the company, effective from July 1, 2021.

He will be taking over from Guenter Butschek, the current CEO and MD of Tata Motors. Butschek has informed his desire to relocate to Germany at the end of the contract for personal reasons, the company said in a regulatory filing on Friday.

He has accepted the request of the board of Tata Motors to continue as the MD & CEO until June 30, 2021.

"I am delighted to welcome Marc to Tata Motors. Marc is an experienced automotive business leader with deep knowledge and expertise in commercial vehicles over his illustrious career and has extensive operational experience in India. Marc will bring this experience to take the Tata Motors Indian business to even greater heights,” said N Chandrasekaran, Chairman, Tata Motors.

Chandrasekaran added, "I would like to thank Guenter for leading Tata Motors successfully over the last five years."

Butschek took over the position on February 25, 2016, after Tata Motors globally searched for the position, spanning almost two years, to fill up the positions left vacant after the death of Karl Slym in January 2014.

Butschek is the highest paid CEO among Indian auto companies. Before joining Tata Motors, he was the COO of Airbus for four years and previously he worked at Daimler AG for 25 years.

Llistosella was most recently the President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia. He was earlier the MD and CEO of Daimler India Commercial Vehicles Pvt Ltd.

"I am delighted to become a part of the unique Tata family. Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors,” said Llistosella.

Marc Llistosella is an experienced automotive executive with a long track record in greenfield projects, turnaround management and leading organisations as CEO and managing director, according to his profile in the regulatory filing.

Between 2008 and 2014, he was based out of India as the Managing Director and CEO of Daimler Commercial Vehicles India where he built a greenfield organisation and business unit to develop, produce and sell trucks. In 2012, the company had launched BharatBenz.

He is currently the Board Member of Einride. He was also the President and CEO of Mitsubishi Fuso Truck and Bus Corporation between 2015 and 2018 where he worked towards improving the profitability and sales potential of the business.

"Having been bonded to India for so many years, a new exciting chapter is now opened. We (Tata family) would jointly awaken the potential of Tata Motors,” he said.

Shares of Tata Motors closed at Rs.325.25 apiece on the BSE on Friday, up 0.11 per cent from the previous close.

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Published on February 12, 2021
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