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.
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Updated Date: Jan 30, 2020 15:22:08 IST
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