Tata Motors considers further extension of up to a year for CEO Guenter Butschek
Marc Llistosella who was to take charge as the next CEO&MD from July abruptly declined to do so.
Currently, with only two weeks left for Butschek’s extended term to end and no candidate shortlisted yet for the post, Tata Motors have little choice but to ask Butschek to continue, top officials close to the development said .
Egon Zehnider has been mandated to identify a suitable candidate but the search is still on. The company has even considered the possibility of an internal candidate, say officials. Tata Motors said it does not comment on speculation and that it’s the prerogative of the NRC/Board to make this decision.
Identifying a leader to head Tata Motors has always been a challenge to the group for a long time.
” Announcing a leader after a long search who even participated in a meeting and then did not take charge was not a very comfortable situation for the company. Tata Motors has always needed special attention from the group chairman, both current and past . There is a view that the group should focus on building leaders from within the group” said a company official seeking anonymity.
German expat Butschek’s 5 year term had earlier ended in February 2021 and Tata Motors had announced another expat.
