Tata Motors group CEO and MD Carl-Peter Forster steps down
10 September 2011
Carl-Peter Forster, CEO and managing director of Tata Motors, yesterday resigned after less than two years at the helm citing ''unavoidable personal circumstances.''
Tata Motors said in a statement, ''Carl-Peter Forster has ceased to be the Group CEO and managing director, with immediate effect, due to his unavoidable personal circumstances. However, at the request of the Board, Forster will continue to serve the Board of Tata Motors as a non-executive member."
Ratan Tata, chairman of Tata Motors, said, "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."
Carl-Peter Forster said, "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."
Prakash Telang, managing director of Tata Motors Indian operations, and Ralf Speth, CEO of UK-based Jaguar Land Rover, will represent their respective units on Tata Motors' board.
Tata Motors had appointed Forster in February 2010 with an eye on turning around its then troubled UK subsidiary Jaguar Land Rover (JLR).