Cyrus Mistry to manage Tata Motors till Slym's replacement in place

Tags: Companies
Tata Motors on Thursday said that as an interim measure, consequent upon the sudden demise of the company’s managing director, Karl Slym, a Corporate Steering Committee (CSC) will provide oversight of strategy and key aspects of the company’s operations which will be headed by Cyrus P Mistry.

Cyrus P Mistry will chair the CSC, which comprises all the current members of the company’s Executive Committee -- Ravindra Pisharody, Satish B Borwankar, C Ramakrishnan, T. A. Leverton, Ranjit Yadav, Mamillapalle Venkatram,. Ankush Arora and Rajesh Bagga, the company said in a statement.

Mistry will also chair new product design and engineering review meetings.

Mistry has issued the following statement saying, “To ensure leadership continuity, the Board of Tata Motors has constituted a Corporate Steering Committee to oversee strategy execution and key aspects of operations; the Corporate Steering Committee will be chaired by me, and will include the current Executive Committee members. The Board expects to appoint a Managing Director in due course.

“As communicated to all Tata Motors employees by me on January 30, during the condolence meeting held in the memory of Karl, we will ensure that the company vigorously pursues and delivers on the strategy which had already been defined and which Karl was executing…. Several new product launches have taken place recently and a robust pipeline is being showcased at this year’s Auto Expo. I am confident that Tata Motors will sustain its strong leadership in the Indian Automobile industry,” Mistry said in the statement.

Karl Slym, managing director of Tata Motors died after falling from a hotel room in Bangkok on January 26, 2014.

Slym was leading Tata Motors at a time when the auto industry was grappling with a prolonged slowdown.He joined the auto major in 2012 as part of a major management overhaul and was responsible for charting the company's strategy to regain momentum in the Indian market. Slym was on a mission to get domestic operations back on track. The company was in the midst of restructuring its operations with a common vision for its two verticals — commercials vehicles and passenger cars, instead of its earlier norm of a separate vision for both.

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