Shares of Tata Motors today fell by nearly 6% in morning trade after its Group CEO and managing director Carl-Peter Forster quit due to "unavoidable personal reasons".
The company's stock tanked 5.84% to touch an early low of Rs 143.80 on the BSE. The stock was the worst performer among the Sensex scrips at 1100 hrs.
The company, after the close of market on Friday last week, said Forster has ceased to be the Group CEO and managing director with immediate effect, due to his unavoidable personal circumstances.
However, at the request of the board, Forster will continue to serve the Board of Tata Motors Ltd as a non- executive member, it said.
Meanwhile, the BSE benchmark Sensex, too, was trading under severe pressure, down 368.36 points at 16,498.61 at 1115 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app