Tata Motors Says Marc Llistosella Not To Join As CEO

Guenter Butschek will continue as CEO & MD till June 30, 2021

Topics

Tata Motors

Bloomberg 

Marc Llistosella

Marc Llistosella (Photo:Bloomberg)

Ltd. said former Daimler AG manager Marc Llistosella will not be joining as its next chief executive officer as previously announced.

Guenter Butschek will continue as the company’s CEO and managing director till June 30, the company said in a filing Friday. It did not give any reason for the change of decision.

Llistosella, who headed Daimler Trucks in Asia, was to take charge effective July, as previously announced on February 12. A former Airbus SE executive, Butschek has been CEO since 2016.

topped expectations during the most recent quarter after struggling with falling sales and rising debt. The turnaround followed deep cost cuts and improved vehicle demand, while the manufacturer remains largely dependent on its luxury Jaguar Land Rover unit.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, March 19 2021. 19:46 IST

RECENT NEWS

JPMorgan's Berlin Moment: Chase Takes On Europe

There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more

What Strategy's Bitcoin Sale Really Tells Us

There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more

Coutts Sets Scope On New Continent

Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more

From Cypherpunk To Citadel

How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more

ACB Securities: Building Scale, Trust & Innovation

ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more

War Risk Returns To Markets As VIX Surges

For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more