on Jun 24, 2021)Mumbai: Guenter Butschek will wrap up his term as CEO of on June 30. He, however, will continue as a consultant to the company till March 31 next year, the flagship of the Tata Group said in a stock exchange filing on Wednesday.
Tata Motors did not name a new CEO and said that the leadership team will work closely with chairman N Chandrasekaran to take the company ahead, indicating that the Tata Group flagship will be without a chieftain again. This would be the fourth time that Tata Motors will be without a CEO in the past 27 years and Chandrasekaran, like his predecessors Cyrus Mistry and Ratan Tata, will have to devote more time to oversee its operations.
Simultaneously, Tata Motors has promoted president (commercial vehicles) Girish Wagh, 51, to the executive director position. The proposal of his appointment, to be effective from July 1, will be placed for approval before Tata Motors shareholders at its AGM on July 30, the company said.
Butschek’s original five-year tenure with Tata Motors had ended in February this year and his contract was renewed till June 30. In February, he had informed the company of his desire to relocate to Germany at the end of the tenure for personal reasons. But Tata Motors had said at the time that Butschek had accepted the board’s request to continue as the CEO till June 30.
