Tata Motors Group appoints P.B. Balaji as CFO

Automobile major Tata Motors on Monday announced the appointment of finance professional P.B. Balaji as the group's new Chief Financial Officer from November 2017.

According to the company, Balaji's appointment is expected to drive financial performance and bring greater vigour to operations and investment decisions across the different entities.

On the appointment, Tata Motors Chairman N. Chandrasekaran said: "Mr Balaji's deep knowledge in all areas across finance and his global experience will be very valuable for the Tata Motors Group. He will be a great addition to the management team."

Balaji is a global finance professional with over two decades of experience in the corporate sector.

He started his career with Unilever in 1995 and worked in different corporate finance roles across Asian markets, Switzerland, UK and India. Since 2014, he has been heading the finance function as the Chief Financial Officer of Hindustan Unilever, a $6 billion enterprise.

"The Tata Group represents the leading edge of Indian business and I am delighted to have the opportunity to work with the Tata Motors' leadership team. I look forward to being part of the transformation journey and an exciting career ahead," Balaji said.

In a related development, FMCG major Hindustan Unilever (HUL) on Monday said that Balaji has stepped down as Executive Director, Finance and IT, and CFO of the company.

In a regulatory filing to the BSE, the company said the announcement of appointment of the successor to P.B. Balaji shall be made in due course.

In his resignation letter to the company, Balaji said: "This is to inform you that I would like to resign from the services of the company to pursue an exciting external opportunity."

"I will be grateful if I can be relieved on or before November 15, 2017," the letter added.

--IANS

ag-rv/dg