Mumbai-headquartered commercial and passenger vehicle manufacturer Tata Motors has announced Marc Llistosella as the company’s new managing director and CEO. Llistosella succeeds Guenter Butschek, former COO of Airbus and a Daimler AG veteran, who took charge at Tata Motors in January 2016.
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. The Sweden-based Einride had billed itself as 'The intelligent movement company' targeting complete transformation of the transportation industry.
Commenting on the new appointment, N Chandrasekaran, chairman, Tata Motors said: "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."
Marc Llistosella 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."
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 June 30, 2021.
Chandrasekaran added: "I would like to thank Guenter for leading Tata Motors successfully over the last 5 years."
Tata Motors registers strong Q3 FY2021 numbers
Llistosella joins Tata Motors at a time when the company is seeing surging demand for its passenger vehicles and an improved performance for its commercial vehicles. The company posted strong Q3 FY2021 results.
Consolidated revenues from operations in Q3 FY2021 grew over 5 percent year-on-year at Rs 75,653.8 crore as sales picked up in key markets across the world. It clockedrobust 67 percent growth in profit in Q3 FY2021 at Rs 2,906 crore compared with a profit of Rs 1,738 crore in Q3 FY2020.
In Q3 FY2021, Tata Motors’ domestic retails continues to be higher than wholesales in passenger vehicles due to continued strong demand. While its market share for M&HCVs was steady at 59 percent, ILCV improved sharply to 46 percent and SCV has begun improving.