Home-grown automaker Tata Motors on Wednesday announced that Guenter Butschek is stepping down from his role as CEO & MD from June 30, 2021.
Butschek had earlier informed his desire to relocate to Germany at the end of the contract for personal reasons.
He will continue as a consultant till the end of this fiscal year, a statement from the company said.
In an email to Tata Motors employees, N Chandrasekaran, Chairman Tata Sons, said: “I would like to thank Guenter for leading Tata Motors successfully over the last five years and creating a strong foundation for the future. I look forward to his continued inputs as a consultant to the company.”
Pursuant to this, Girish Wagh is being appointed as the Executive Director to the Board of Tata Motors from July 1, 2021.
Tata Motors’ domestic business has successfully transitioned to a Business Unit structure with the Commercial Vehicles Division headed by Girish Wagh and the Passenger Vehicle Division headed by Shailesh Chandra.
The Executive Committee is an experienced leadership team that has been successfully scripting the turnaround of the company and will continue to drive the business.Girish Wagh, President - Commercial Vehicles, Shailesh Chandra, President – Passenger Vehicles and Thierry Bollore, CEO – Jaguar Land Rover will continue to work closely with the Chairman, N Chandrasekaran, the statement added.