Tata Motors global CEO and MD Carl-Peter Forster has stepped down with immediate effect. The reason provided states ‘unavoidable personal circumstances.’ As per the Tata Motors Board’s request, he will still stay on the board as a non-executive member. The other major change introduced will see JLR CEO Ralf Speth and Prakash Telang, MD of Tata Motors India Operations will represent their respective operations on the Board, which means they would have to report directly to the board.
Chairman of the Board of Tata Motors, Mr. Ratan N. Tata had this to say. “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, Tata Motors’ global CEO and MD had this to say. “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.”
The announcement was made late in the day today. Currently Tata Motors has been receiving mixed reactions from various markets. While their luxury Jaguar Land Rover unit has been reporting profits and positive sales, the world’s cheapest car Tata Nano has been registering sales decline.
Carl Forster began work with Tata Motors in January 2010a nd in his role as Tata Motors global CEO and MD, headed the UK based Jaguar and Land Rover, South Korean commercial vehicle venture, Tata Daewoo Commercial Vehicle Co., Hispano Carrocera SA, the Spanish bus maker, and local operations pertaining to the Indian car market. Before today, there was no public speculation regarding MD Carl-Peter Forster’s resignation. Prior to this, Forster was head of General Motors Co., Europe, and MD of BMW AG’s South Africa business.