JLR CEO Ralf Speth to retire in September, to become non-executive vice chairman: Tata Motors
Tata Motors on Thursday announced the retirement of Ralf Speth as Executive Director and Chief Executive Officer of Jaguar Land Rover (JLR) at the end of his contract term in September
-
Speth Speth will take up the role of non-executive vice chairman of JLR, Tata Motors' Chairman N Chandrasekaran said in a regulatory filing
-
Speth will also remain on the board of Tata Sons, he added
-
The shares of Tata Motors were trading at Rs 185.65 apiece on BSE, down 1.28 percent from the previous close
New Delhi: Tata Motors on Thursday said Ralf Speth will retire as Executive Director and Chief Executive Officer of Jaguar Land Rover (JLR) in September when his contract ends.
Speth will take up the role of non-executive vice chairman of JLR, Tata Motors' Chairman N Chandrasekaran said in a regulatory filing.
Speth will also remain on the board of Tata Sons, he added.
#JustIn | Dr Ralf Speth to retire as executive director & CEO of @JLR_News in September 2020. He will become non-executive vice-chairman of JLR post September.
He will also remain on the board of Tata Sons pic.twitter.com/ZLVrTSkChp
— CNBC-TV18 (@CNBCTV18Live) January 30, 2020
"Professor Sir Ralf Speth has decided to retire from his current role as Executive Director and Chief Executive Officer of JLR at the end of his contract term in September 2020," as per the filing.
"I want to thank Ralf for his passion and commitment over the last 10 years. Ralf developed Jaguar Land Rover from a niche UK centric manufacturer to a respected, technological leading, global premium company," said Chandrasekaran, who is also Chairman of Tata Sons and JLR.
"A search committee has been formed which will work with me to identify a suitable successor in the coming months," he said.
"Personally, I am looking forward to new and exciting challenges," Speth said.
The shares of Tata Motors were trading at Rs 185.65 apiece on BSE, down 1.28 percent from the previous close.
Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply
also read
Sensex, Nifty end flat after volatile trade: Top 10 gainers and losers today at close of market
While the BSE Sensex was up 7.09 points or 0.01 percent at 49,751.41, the Nifty was up 32.10 points or 0.22 percent at 14,707.80
Stock Market roundup: Sensex surges 750 points, Nifty above 14,750; key stocks that moved most today
The market began on a good note, gaining around 1.5 percent on the back of positive domestic data and auto sales number on the first day of March
Sensex reclaims 50,000-benchmark amid hectic buying in IT, auto, FMCG sectors; Nifty ends in green
The top five gainers were Tata Motors, M&M, Wipro, Adani Ports and NTPC, while the top losers were ONGC, HDFC, Dr Reddy’s Labs, Coal India and Power Grid Corp