Tata Motors looking for a new CEO as it struggles to revive Jaguar sales

Article by Christian Andrei, on September 15, 2011

As Tata Motors Ltd. struggles to revive sales of premium vehicles in the midst of a worsening debt crisis in Europe, it now has to search for a new CEO. It has been three years since the company bought the Jaguar and Land Rover brands from Ford Motor Co.

Carl-Peter Forster, who helped in turning the Jaguar Land Rover into a profitable unit in the year ended March 31, quit on Sept. 9 as the global head of the company, which is the largest automaker of India.

“Unavoidable personal circumstances” were cited, according to Autonews. Forster kept this position for less than two years. His replacement will face the challenge of reversing six consecutive months of dropping sales at Jaguar as European economies stall.

The company, which achieved 35 percent of its revenue from the U.S. and Europe last year, now needs to find a CEO soon to avoid derailing a plan to invest $2.4 billion yearly in new models and to expand in China, according to managing director Deepesh Rathore at IHS Automotive.

Analyst Andrew Jackson at research firm Datamonitor in London stated that the scenario is a “big blow” for Jaguar Land Rover, adding that Forster “signed off on a very bold change in direction for the company.”

Its shares have declined 44 percent this year, which qualifies it as the worst performing stock in the BSE India Sensitive Index. Chairman Ratan Tata at Tata Motors commented that the credit for the turnaround of Jaguar Land Rover goes to the company’s workforce and management team, adding that no single person can or should take credit for the improvement in the company’s operations.

Topics: tata motors, ceo

If you liked the article, share on:


Login or Create new account to add a comment!


Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016
Many are already expecting BMW to launch an ultra luxurious SUV that will serve at its new flagship by late 2018. Larger than the X5 and X6, the new X7...
by - October 21, 2016
Most of you may have heard or already have one of those autonomous home appliances doing the house chores. Thus, it’s not anymore unusual to see a car going places...
by - October 20, 2016