Tata Motors names ex-Daimler trucks executive as CEO
Tata Motors Ltd. has appointed former Daimler AG manager Marc Llistosella to become its next chief executive officer after Guenter Butschek asked to step down due to personal reasons.
Llistosella, who previously headed Daimler Trucks in Asia, will take charge effective July, Tata Motors said Friday in a filing. A former Airbus SE executive, Butschek has been CEO since 2016 and will stay on until June 30, Tata Motors said.
“Marc is an experienced automotive business leader with deep knowledge and expertise in commercial vehicles," Tata Chairman N Chandrasekaran said in the statement, including “extensive operational experience in India."
Tata Motors topped expectations during the most recent quarter after struggling with falling sales and rising debt. The turnaround followed deep cost cuts and improved vehicle demand, while the manufacturer remains largely dependent on its luxury Jaguar Land Rover unit.