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:

Comments

Login or Create new account to add a comment!

Recommended

The man sitting at the top of the performance division of Mercedes-Benz – Tobias Moers – cryptically indicated that the Mercedes-AMG GT4 could be really coming. Moers, chief executive of...
by - January 18, 2017
The 2017 Detroit Auto Show (2017 North American International Auto Show) has been exciting and thrilling. Several new concepts and production vehicles were announced and unveiled, with a number of...
by - January 18, 2017
Your 2017 Volkswagen Golf Facelift could get as sporty looking as the Golf R with the new R-Line packages. But without the sporty run and the premium price. Set to...
by - January 17, 2017
Whether or not you’re a tech addict, you realize that the digital revolution is now moving at high speed. Before you know it, there’s already a new one on the...
by - January 17, 2017
We really couldn’t deny that quite a number of Audi customers and would-be-buyers are intently waiting for higher performance RS versions of the Audi A4 and A5. Of course, these...
by - January 17, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries