Tata Motors Group CEO Carl-Peter Forster stepped down on Friday. Forster took over as the head of Tata Motors in January 2010. Prior to joining the Tatas, he was head of the General Motors' European operations.
Forster leaves Tata Motors when its Jaguar Land Rover subsidiary steadily grows in terms of sales and profit, while the passenger car operations in India - especially the underperformance of the small car - Nano raises concern.
His resignation, according to a Tata Motors' statement, was due to "unavoidable personal circumstances."
"I deeply regret that my personal circumstances make it difficult for me to continue to perform the challenging duties of managing Tata Motors," Forster said.
He will, however, continue to be on the board for a short while as a non-executive member. Prakash Telang, MD India Operations and Ralf Speth, CEO, Jaguar Land Rover, will report to the company board on their respective operations as search for a new head begins.
"The Board respects Carl-Peter's personal circumstances that led to this move," said Tata group Chairman Ratan Tata. "We would like to thank him for his contributions to the successful development of our company."
{{/usCountry}}"The Board respects Carl-Peter's personal circumstances that led to this move," said Tata group Chairman Ratan Tata. "We would like to thank him for his contributions to the successful development of our company."
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