N Chandrasekaran, Chairman, Tata Motors Limited said: ” Marc is an experienced automotive business leader with deep knowledge and expertise in Commercial Vehicles over his illustrious career and has extensive operational experience in India. Marc will bring this experience to take the Tata Motors Indian business to even
greater heights.”
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 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 has 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. ET reported earlier in the day about the board meeting today. 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.
