Tata Motors says Marc Llistosella not to join as CEO

Tata Motors Ltd. explained former Daimler AG supervisor Marc Llistosella will not be joining as its subsequent chief executive officer as previously announced.

Guenter Butschek will keep on as the company’s CEO and taking care of director till June thirty, the firm explained in a filing Friday. It did not give any explanation for the improve of final decision.

Llistosella, who headed Daimler Trucks in Asia, was to get demand productive July, as previously announced on February twelve. A former Airbus SE executive, Butschek has been CEO considering that 2016.

Tata Motors topped anticipations for the duration of the most modern quarter following battling with slipping profits and mounting credit card debt. The turnaround followed deep charge cuts and improved car or truck need, when the maker continues to be largely dependent on its luxurious Jaguar Land Rover device.

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