Marc Llistosella replaces Guenter Butschek as CEO & MD of Tata Motors
15 February 2021
Tata Motors on Saturday announced the appointment of former COO of Airbus and a Daimler AG, Marc Llistosella as the company’s new managing director and CEO.
Llistosella, who took charge at Tata Motors in January 2016, succeeds Guenter Butschek who is relocating to Germany after his term ends,
Llistosella was the president and CEO of Mitsubishi Fuso Truck & Bus Corporation and Head of Daimler Trucks Asia till 2018 before he moved on to join Einride’s board of directors.
Sweden-based Einride calls itself 'The intelligent movement company' targeting complete transformation of the transportation industry.
"I am delighted to welcome Marc to Tata Motors. Marc is an experienced automotive business leader with deep knowledge and expertise in commercial vehicles over his illustrious career and has extensive operational experience in India. Marc will bring this experience to take the Tata Motors Indian business to even greater heights," N Chandrasekaran, chairman, Tata Motors, said.
"I am delighted to become a part of the unique Tata family. Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors," Marc Llistosella said.
Guenter Butschek has informed his desire to relocate to Germany at the end of the contract for personal reasons. He has accepted the request of the board of Tata Motors to continue as the MD and CEO till 30 June 2021, Chandrasekaran said.
"I would like to thank Guenter for leading Tata Motors successfully over the last 5 years," he added.
Llistosella joins Tata Motors at a time when the company is seeing a revival of business with surging demand for its new passenger vehicle models and an improved performance for its commercial vehicles.
Tata Motors reported a 67 per cent growth in profit in Q3 FY2021 at Rs2,906 crore compared with a profit of Rs1,738 crore in Q3 FY2020.
The company also posted strong results for third quarter of FY2021.
Consolidated revenues from operations in Q3 FY2021 grew over 5 per cent year-on-year to Rs75,653.8 crore as sales picked up in key markets across the world.