Mumbai June 23 : Tata Motors has announced that Guenter Butschek will step down from his role as the CEO and MD from June 30.
He, however, will continue as a consultant to the company till the end of this fiscal year.
Butschek had earlier informed the company of his desire to relocate to Germany at the end of the contract for personal reasons.
Tata Group Chairman N. Chandrasekaran said: "I would like to thank Guenter for leading Tata Motors successfully over the last 5 years and creating a strong foundation for the future. I look forward to his continued inputs as a consultant to the Company." Butschek said that leading Tata Motors over the last five years was an exciting experience.
"The business fundamentals are stronger, and we are well positioned to leverage the opportunities in both Commercial and Passenger Vehicles. I look forward to my continued association with the company as a consultant in the coming months," he added.
Girish Wagh has now been appointed as the Executive Director to the Board of Tata Motors Ltd from July 1.
Tata Motors' domestic business has successfully transitioned to a Business Unit structure with the Commercial Vehicles Division headed by Wagh and the Passenger Vehicle Division headed by Shailesh Chandra.
The Executive Committee is an experienced leadership team that has been successfully scripting the turnaround of the company and will continue to drive the business, said a company statement.
Wagh, the President, Commercial Vehicles, Shailesh Chandra, President, Passenger Vehicles and Thierry Bollore, CEO, Jaguar Land Rover will continue to work closely with Chandrasekaran, it said.