Tata Motors on Friday announced that its global chief executive officer, Carl-Peter Forster, has stepped down with immediate effect, because of 'unavoidable personal circumstances'.
"Carl-Peter Forster has ceased to be the Group chief executive officer and managing director, with immediate effect, because of 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," the company said.
Prakash Telang, managing director of India Operations, and Ralf Speth, chief executive officer of Jaguar Land Rover, will continue to represent their respective operations on the Board, it said.
Ratan N Tata, chairman of the Board of Tata Motors, said, "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 chief executive officer and managing director.
"We are looking forward to continue 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." Forster had joined in Tata Group last year.
Image: Carl-Peter Forster
