Tata Motors has confirmed that Guenter Butschek will step down from his role as chief executive and managing director from June 30. The auto giant has appointed Girish Wagh, president-commercial vehicles, as the executive director to the board of Tata Motors from July 1.
He will continue as a consultant to the company till the end of this fiscal year. Butschek had earlier expressed his desire to relocate to Germany at the end of the contract for personal reasons. Chairman of Tata Sons, N Chandrasekaran said Butschek created a strong foundation for Tata Motors' future.
"I would like to thank Guenter for leading Tata Motors successfully over the last 5 years and creating a strong foundation for the future. I look forward to his continued inputs as a consultant to the company," he said.
Guenter 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," he said.
The company said Tata Motors' domestic business has successfully transitioned to a "business unit" structure with the commercial vehicles division headed by Girish Wagh and the passenger vehicle division headed by Shailesh Chandra".
Girish Wagh, Shailesh Chandra, President-Passenger Vehicles, and Thierry Bollore, CEO-Jaguar Land Rover, will continue to work closely with Chandrasekaran. "The executive committee is an experienced leadership team that has been successfully scripting the turnaround of the company and will continue to drive the business," the company added.
In March, Tata Motors had said Marc Llistosella, who was to join Tata Motors as its CEO & Managing Director from July 1, won't be joining Tata Motors since he is not able to relocate to India for personal reasons. Llistosella is the former President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia.
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