Tata Motors said that Guenter Butschek, the Chief Executive Officer(CEO) and Managing Director(MD) would step down on June 30, 2021.
He had informed his desire to relocate to Germany at the end of the contract for personal reasons but he will continue as a consultant to the company till the end of this fiscal year.
The Chairman of Tata Sons Natarajan Chandrasekaran stated,“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."
Butschek stated, "Leading Tata Motors over the last 5 years was an exciting experience. The business fundamentals are stronger, and we are well positioned to leverage the opportunities in both the commercial and passenger vehicles. I look forward to my continued association with the company as a consultant in the coming months.”
He joined the Tata Motors back in January 2016 where he was responsible for leading all projects of the company in India. He also lead many projects of the company in the international markets including South Korea, Thailand, Indonesia and South Africa.
President of Commercial Vehicles Division , Girish Wagh will be appointed as the Executive Director to the Board of Tata Motors from July 1, 2021. Shailesh Chandra will continue to head the commercial vehicles division.
Earlier in the month of March, the company stated that Marc Llistosella was about to join Tata Motors as its CEO & MD from July 1, won't be joining Tata Motors.