Guenter Butschek to continue; Marc Llistosella will not be taking over as Tata Motors MD and CEO

has announced that Marc Llistosella who was to join Tata Motors as its CEO & Managing Director effective from July 1, 2021, will not be joining Tata Motors as its CEO & Managing Director as previously announced on February 12, 2021 . As mentioned earlier, Guenter Butschek will continue as MD & CEO till June 2021.

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.

Commenting on his appointment Mr Llistosella had said, ” Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors.”

Mr Guenter Butschek had informed his desire to relocate to Germany at the end of the contract for personal reasons. He has kindly accepted the request of the Board of Tata Motors to continue as the MD & CEO till 30th June 2021. The company is currently back on the growth mode after recording years of challenging period.

The auto major posted a 67.2% surge in profit for the December quarter, following a pick-up in sales in several of the carmaker’s key growing markets. Due to a strong festive season,rural pick up and preference for personal mobility, its PV business posted its highest sales in last 33 quarters. In the past one month, Tata Motors has outperformed the market as its shares rose 67 per cent on better operational performance. Analysts say the company saw continued volume recovery in both businesses in Q3FY21