Senior executives at Tata Motors quit

Even as the CEO search at Tata Motors enters its fourth month, the company has seen the departure of two senior executives crucial to the launch of the Zest and Bolt models that's part of an exercise aimed at reinvigorating the flagging passenger vehicle division. Ankush Arora, senior vice president, commercial, has resigned, the company confirmed. S Jayaraman, a senior executive on the product planning team, has also quit, it said. The launches are touted as a make-or-break event for India's largest automobile company by revenue as it's been steadily losing market share in the last two years with a passenger vehicle lineup that's regarded as jaded in a market already struggling amid an economic slump.

Read the Economic Times news report here.