On Friday morning, Indian car manufacturer Tata Motors Ltd. (TTM) appointed a new CEO and Managing Director. Both roles will be taken over by Marc Llistosella, who has previously worked as CEO for the Mitsubishi Fuso Truck and Bus Corporation.
Tata Motors is specialized in vehicle production and also known for their purchase of luxury car brand Jaguar Land Rover in 2008. It is also part of the multinational conglomerate Tata Group.
Chairman Natarajan Chandrasekaran highlighted Marc’s extensive experience in automotive business leadership. Having worked as executive for Daimler India Commercial Vehicles Pvt Ltd, he also gained familiarity with the Indian car market.
Llistosella will succeed current CEO Guenther Butschek on the 1st of July 2021. Butschek has communicated his desire to relocate to Germany after his tenure due to private reasons.
Tata Motors Ltd. (TTM) rose by around 1.5% amid the CEO transition announcement.