Companies

Tata Motors CEO and Managing Director Guenter Butschek to step down on June 30

Our Bureau Mumbai | Updated on June 23, 2021

Guenter Butschek, CEO, Tata Motors

Girish Wagh, President-Commercial Vehicles, to take over as Executive Director, effective July 1

Tata Motors said its Chief Executive Officer and Managing Director Guenter Butschek would step down on June 30, but would continue as a consultant till the end of this fiscal year.

The company has appointed Girish Wagh, President-Commercial Vehicles at Tata Motors, as Executive Director, effective July 1.

Wagh, along with Shailesh Chandra (President–Passenger Vehicles) and Thierry Bollore (Chief Executive Officer of Jaguar Land Rover), will continue to work closely with the Tata Group Chairman N Chandrasekaran.

Tata Motors in a late evening regulatory filing said its domestic business has successfully transitioned to a business unit structure with the Commercial Vehicles division headed by Wagh, and the Passenger Vehicle division headed by Shailesh Chandra.

The executive committee is an experienced leadership team that has been successfully scripting the company’s turnaround and will continue to drive the business.

Chandrasekaran said: “I would like to thank Guenter for leading Tata Motors successfully over the last five years and creating a strong foundation for the future. I look forward to his continued inputs as a consultant to the company”.

Butschek, who had informed his desire to relocate to Germany at the end of the contract for personal reasons, will therefore be stepping down from his role, the company said.

Butschek said: “Leading Tata Motors over the last five years was an exciting experience. The business fundamentals are stronger, and we are well positioned to leverage the opportunities in both Commercial and Passenger Vehicles. I look forward to my continued association with the company as a consultant in the coming months”.

On February 13, 2021, Tata Motors said Marc Llistosella, an experienced automotive executive with a long track record in greenfield projects, was appointed as Chief Executive Officer and Managing Director effective July 1.

He was to replace Guenter Butschek.

Later on March 19, Tata Motors said Llistosella will not be joining the company, contrary to its previous announcement, but did not provide any reasons.

Published on June 23, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor