Tata Motors declines as Marc Llistosella not to join as CEO

Tata Motors slipped 0.95% to Rs 306 after the auto major announced that Marc Llistosella will not be joining as its next managing director & CEO as previously announced.

Earlier on 12 February 2021, Tata Motors announced the appointment of Marc Llistosella to the role of chief executive officer and managing director of Tata Motors effective 1 July 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.

The Tata Group Enterprise on Friday (19 March 2021) announced that Marc Llistosella will not be joining Tata Motors as previously announced since he is not able to relocate to India for personal reasons at this point of time.

The company added that Guenter Butschek will continue as the CEO & managing director till 30 June 2021.

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

On a consolidated basis, the auto major's net profit surged 64.9% to Rs 3,222.21 crore on 5.4% rise in net sales to Rs 74,878.98 crore in Q3 FY21 over Q3 FY20.

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