New Delhi, Feb 12 (PTI) Tata Motors on Friday said it has appointed Marc Llistosella as its Chief Executive Officer and Managing Director.
He is the former President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia.
Llistosella, whose appointment will be with effect from July 1, 2021, will succeed Guenter Butschek, who has expressed his desire to relocate to Germany at the end of the contract for personal reasons, Tata Motors said in a regulatory filing.
'I am delighted to welcome Marc to Tata Motors. Marc is an experienced automotive business leader with deep knowledge and expertise in commercial vehicles over his illustrious career and has extensive operational experience in India,' Tata Motors Chairman N Chandrasekaran said.
Marc will bring this experience to take the Tata Motors' Indian business to even greater heights, he added.
Commenting on his appointment Llistosella said, 'Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors'.
The auto major said Butschek had informed his desire to relocate to Germany at the end of the contract for personal reasons.
He, on the request of Tata Motors board, has accepted to continue as CEO and MD till June 30, 2021, the auto major said.
'I would like to thank Guenter for leading Tata Motors successfully over the last five years,' Chandrasekaran noted.
Tata Motors had roped in Butschek, former Airbus Chief Operating Officer as its Managing Director and chief executive of local operations, in 2016, filling up the positions left vacant after the death of Karl Slym in January 2014.
Since then he has been on a mission to turn around the domestic business of the homegrown auto major which was bleeding.
In 2016-17, Tata Motors' standalone gross revenues were at Rs 49,100 crore, up 3.6 per cent from the previous fiscal, but the loss after tax, on a standalone basis, was Rs 2,480 crore compared to Rs 62 crore.
In 2017, Tata Motors announced its turnaround plan for its domestic business with a special focus on the ailing commercial vehicles business. It shifted focus to 'Turnaround' from its earlier strategy of 'Transformation'. Subsequently, in 2017-18, the company was able to improve its sales significantly.
In its Turnaround 2.0, Tata Motors had focussed on the passenger vehicles business. At present, the company is in the process to hive off the unit into a separate entity and seek a strategic long term partner. PTI MSS RKL BAL