JLR CEO Ralf Speth will retire in September: Tata Motors
NEW DELHI: Tata Motors said Thursday that he will retire as executive director and chief executive officer (CEO) of Jaguar Land Rover (JLR) in September when his contract ends.
Speth will assume the role of non-executive vice president of JLR, said Tata Motors president N Chandrasekaran in a regulatory presentation.
Speth will also remain on the board of Tata Sons, he added.
Professor Sir Ralf Speth has decided to retire from his current position as executive director and executive director of JLR at the end of his term in September 2020, according to the presentation.
I want to thank Ralf for his passion and commitment for the past 10 years. Ralf developed Jaguar Land Rover from a specialized manufacturer in the United Kingdom to a respected company, a leader in technology and global premium, said Chandrasekaran, who is also president of Tata Sons. and JLR.
A search committee was formed that will work with me to identify a suitable successor in the coming months, he said.
Personally, I look forward to new and exciting challenges, Speth said.
Tata Motors shares traded at Rs 185.65 each in BSE, 1.28 percent less than the previous close.