Guenter Butschek to step down as CEO & MD on June 30: Tata Motors

Tata Motors announced that Guenter Butschek who had informed his desire to relocate to Germany at the end of the contract for personal reasons, will be stepping down from his role as CEO & MD from June 30, 2021. He will continue as a consultant to the company till the end of this fiscal year.

Pursuant to this, Girish Wagh is being appointed as the Executive Director to the Board of Tata Motors from July 1, 2021. Wagh is the president of commercial vehicles division. The passenger vehicle division will continue to be headed by Shailesh Chandra.

Tata Sons Chairman N Chandrasekaran said, “I would like to thank Guenter for leading Tata Motors successfully over the last 5 years creating a strong foundation for the future. I look forward to his continued inputs as a consultant to the company.”

Before Butschek, Tata Motors was without a CEO for two years (2014 till 2016) after Karl Slym’s sudden demise. At that time, former Tata Motors chairman Cyrus Mistry supervised its functioning. The company was also without a CEO for 10 months in 2012, after Prakash Telang superannuated. Before that too, it was without a CEO for 10 years (1994 to 2005), after J E Talaulicar retired. Tata Motors chairman emeritus Ratan Tata oversaw the company’s operations during that period.

Butschek, also a German national, has been managing Tata Motors from his home country Austria for most of the Covid-19 pandemic that has restricted human mobility.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information commentary on developments that are of interest to you have wider political economic implications for the country the world. Your encouragement constant feedback on how to improve our offering have only made our resolve commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed updated with credible news, authoritative views incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better more relevant content. We believe in free, fair credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism subscribe to Business Standard.

Digital Editor

Source link