Tata Motors has announced that its group chief executive officer, Carl-Peter Forster, resigned with immediate effect, only 18 months after joining the company.
Tata, India's leading maker of trucks and buses, and owner of Jaguar and Land Rover, says Forster resigned due to "unavoidable personal circumstances," but will remain a non-executive member of Tata Motors' board. Forster stated:
Tata, India's leading maker of trucks and buses, and owner of Jaguar and Land Rover, says Forster resigned due to "unavoidable personal circumstances," but will remain a non-executive member of Tata Motors' board. Forster stated:
Forster's departure comes as Tata Motors continues its lengthy search for a successor to Ratan Tata, who is set to retire soon as chairman of the sprawling conglomerate. Forster joined Tata in February 2010 after leaving Opel, with his focus on turning around the then-struggling Jaguar-Land Rover division. Tata Motors is currently seeking Forster's replacement.I deeply regret that my personal circumstances make it difficult for me to continue to perform the challenging duties of managing the thriving global activities of the Tata Motors Group with its main activities in India and the UK and increasingly in additional overseas markets.
Tata Motors Global CEO steps down
Tata Motors Limited announces that Mr. Carl-Peter Forster has ceased to be the Group CEO and MD, with immediate effect, due to his unavoidable personal circumstances. However, at the request of the Board, Mr. Forster will continue to serve the Board of Tata Motors Limited as a non-executive member. Mr. Prakash Telang, MD of India Operations, and Dr. Ralf Speth, CEO of Jaguar Land Rover, will represent their respective operations on the Board.
Mr. Ratan N. Tata, Chairman of the Board of Tata Motors, noted: "The Board respects Carl-Peter's personal circumstances that led to this move. We would like to thank him for his contributions to the successful development of our company in his role as Group CEO and MD. We are looking forward to continue to working with him as a non-executive member of the Board."
Mr. Carl-Peter Forster stated: "I deeply regret that my personal circumstances make it difficult for me to continue to perform the challenging duties of managing the thriving global activities of the Tata Motors Group with its main activities in India and the UK and increasingly in additional overseas markets. I am glad to continue my association with Tata Motors."
Tata Motors Limited announces that Mr. Carl-Peter Forster has ceased to be the Group CEO and MD, with immediate effect, due to his unavoidable personal circumstances. However, at the request of the Board, Mr. Forster will continue to serve the Board of Tata Motors Limited as a non-executive member. Mr. Prakash Telang, MD of India Operations, and Dr. Ralf Speth, CEO of Jaguar Land Rover, will represent their respective operations on the Board.
Mr. Ratan N. Tata, Chairman of the Board of Tata Motors, noted: "The Board respects Carl-Peter's personal circumstances that led to this move. We would like to thank him for his contributions to the successful development of our company in his role as Group CEO and MD. We are looking forward to continue to working with him as a non-executive member of the Board."
Mr. Carl-Peter Forster stated: "I deeply regret that my personal circumstances make it difficult for me to continue to perform the challenging duties of managing the thriving global activities of the Tata Motors Group with its main activities in India and the UK and increasingly in additional overseas markets. I am glad to continue my association with Tata Motors."
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