Tata Motors names ex-Daimler trucks executive as CEO

By: Bloomberg
Updated on: 13 Feb 2021, 10:19 AM

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Marc Llistosella, who previously headed Daimler Trucks in Asia, will take charge effective July, Tata Motors said Friday in a filing.

Representational Image: Tata Motors logos are seen at their flagship showroom in Mumbai February 14, 2013. REUTERS/Vivek Prakash/File Photo (REUTERS)

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.

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“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.

First Published Date: 13 Feb 2021, 10:19 AM IST

TAGS: Tata Motors Marc Llistosella Daimler AG Guenter Butschek