Mumbai - Tata Motors appointed Guenter Butschek as the chief executive officer of its India business, two years after the death of previous chief Karl Slym.
Butschek, 55, who was previously chief operating officer at Airbus Group SE, is expected to join by February 15, Tata Motors said in a statement on Monday. He will lead all operations of Tata Motors in India and in international markets. The Mumbai-based company’s luxury unit Jaguar Land Rover will continue to be managed by its CEO Ralf Speth, the company said.
Butschek has the task of turning around the truck and carmaker, which reported losses in five of the past seven quarters through September. Tata Motors which relies on Jaguar Land Rover for a bulk of its profits, has introduced new passenger vehicle models as it seeks to regain lost market share.
“Tata Motors is going through an exciting yet challenging phase and Mr Butschek’s appointment comes at an opportune moment,” Cyrus P. Mistry, chairman of Tata Motors, said in the statement. “He brings with him rich global experience of growing organisations and developing new markets.”
The company’s shares fell 0.3 percent in Mumbai on Monday. The stock tumbled 20 percent in last year.
Butschek worked at Daimler AG for more than 25 years in international automotive management and was the CEO of Beijing Benz Automotive, a joint venture between Daimler and Beijing Automotive Industrial Holding in China, prior to joining Airbus in 2011. Butschek graduated in business administration and economics with a diploma from the University of Cooperative Education Stuttgart, Germany.
Tata has been seeking for a permanent replacement for former managing director Karl Slym, who led efforts to revive profitability and market share at the Indian business, since Slym fell to his death in 2014.
* With assistance from Rose Kim
BLOOMBERG