Tata Motors, in a stock exchange filing on Friday, said that Marc Llistosella, a former Daimler veteran, will not join the company as the chief executive and managing director of its India business. Llistosella was supposed to take charge of the company from Guenter Butschek from July 1,2021.
The announcement comes as a surprise as the post is likely to fall vacant since Tata Motors current chief executive’s term ends by June. With just three months left before Butschek demits office, it will be tough for the company to find his successor.
“Tata Motors wishes to announce that Mr. Marc Llistosella Y Bischoff who was to join Tata Motors as its CEO & Managing Director effective from July 1, 2021, will not be joining Tata Motors as its CEO & Managing Director as previously announced on February 12, 2021 . As mentioned in our said earlier letter, Mr.Guenter Butschek will continue as the CEO & Managing Director till June 30, 2021 ,” the company said in a statement.
The Tata Group flagship on February 12 had named Marc Llistosella as the managing director and chief executive officer (MD and CEO) of its India business which comprises the commercial and passenger vehicle businesses.