News: Tata Motors’ newly appointed CEO not to join the company

C-Suite

Tata Motors’ newly appointed CEO not to join the company

Marc Llistosella, whose joining announcement was made in February was scheduled to take over the reins of the company from Guenter Butschek from July 1.
Tata Motors’ newly appointed CEO not to join the company

In a development that took the industry by surprise, Marc Llistosella, the former Daimler veteran, will not join Tata Motors as chief executive and managing director (MD) of its India business, the company said in a stock exchange filing.

Llistosella, whose joining announcement was made in February was scheduled to take over the reins of the company from Guenter Butschek from July 1.

“Tata Motors wishes to announce that Mr. Marc Llistosella Y Bischoff, who was to join Tata Motors as its CEO and managing director effective from July 1, 2021, will not be joining Tata Motors as CEO and Managing Director, as previously announced on February 12, 2021. As mentioned in our said earlier letter, Mr. Guenter Butschek will continue as CEO and Managing Director till June 30, 2021,” the company said in a statement.

As per a person close to the development, Llistosella cannot relocate to India for personal reasons. Meanwhile, Guenter Butschek, the company’s current MD and CEO, will continue in his role until June 30. 

The company had named Butschek, an Airbus veteran, in February 2016 after a search that lasted for almost a year and a half. The position fell vacant in January 2014, after the sudden demise of Karl Slym, former MD of General Motors India.

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.

The announcement leaves very little time for Tata Motors to find a new successor. This means that India’s largest commercial vehicle maker is again staring at operating without a leader, the third time in the past 10 years. Slym was named MD of the India business in October 2012. Prior to 2012, also, the company had witnessed periods without an MD. Unless the firm quickly finds a replacement, it may be left wanting for a CEO yet again after June 30.

Read full story

Topics: C-Suite, #Appointments

Did you find this story helpful?

Author


QUICK POLL

How well prepared were the companies to tackle the scourge of the second wave of the pandemic?

2 months free subscription
q_auto,f_auto/v1625556457/mag-july-2021.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

Are you reinventing your company ‘Culture’ in the hybrid world of work?

READ the July 2021 issue of our magazine to gain insights into the Digital Culture Reset.