Tata Motors on Wednesday said Guenter Butschek will step down as its MD and CEO with effect from June 30.
He will, however, continue as a consultant to the company till the end of this fiscal year.
The auto major also said it has elevated Girish Wagh as executive director with effect from July 1, 2021.
Wagh currently heads the company’s commercial vehicle operations.
In a late night statement, the auto major noted that Butschek, who had informed about his desire to relocate to Germany at the end of the contract for personal reasons, will therefore be stepping down from his role as CEO and MD from June 30, 2021.
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“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,” Tata Motors Chairman N Chandrasekaran said.
Butschek, the former Airbus chief operating officer, had joined Tata Motors as managing director and chief executive of local operations in 2016, filling up the positions left vacant after the death of Karl Slym in January 2014.
Since then, he has been on a mission to turn around the bleeding domestic business of the home-grown auto major.
Currently, Tata Motors’ 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.
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Wagh, President – Commercial Vehicles, Chandra, President – Passenger Vehicles and Thierry Bollore, CEO – Jaguar Land Rover will continue to work closely with Chairman N Chandrasekaran, Tata Motors said.
In February this year, Tata Motors had announced the appointment of Marc Llistosella as its chief executive officer and managing director with effect from July 1.
However, a month later, the company announced that he will not be joining as its CEO and MD.
Tata Motors is a USD 35 billion organisation. The Mumbai-headquartered firm produces cars, utility vehicles, pick-ups, trucks and buses.
Part of the USD 113 billion Tata group, the company is India’s largest auto maker with operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 103 subsidiaries, 10 associate companies, 3 joint ventures and 2 joint operations as on March 31, 2020.
This story has been published from a wire agency feed without modifications to the text.