Tata Motors on Friday announced a top-level management reshuffle as it prepares to demerge its commercial vehicles arm. Group CFO P B Balaji will take over as CEO of Jaguar Land Rover (JLR), while Dhiman Gupta has been elevated as Tata Motors’ new CFO effective November 17. Balaji will also remain on the parent company’s board as a non-executive, non-independent director.
As part of the restructuring, former Tata Motors MD (2016–2021) Guenter Butschek will step down as an independent director of the automaker from October 1 and join the board of the commercial vehicles subsidiary, TML Commercial Vehicles Ltd.
In another change, Girish Wagh, who heads the commercial vehicles business, will move out of the Tata Motors board to become Managing Director and CEO of TML Commercial Vehicles. Shailesh Chandra, currently leading the passenger vehicles and EV divisions, has been appointed Managing Director and CEO of Tata Motors Ltd. for a three-year term starting October 1.
Tata Motors Chairman N. Chandrasekaran said the strategic realignment would give both businesses "sharper focus, greater agility, and deeper customer centricity," enhancing shareholder value and expanding employee opportunities.
The leadership changes follow the National Company Law Tribunal’s (NCLT) nod to Tata Motors’ composite scheme of arrangement, under which the commercial vehicles business will be spun off into Tata Motors Commercial Vehicles Ltd (TMLCV), while TML Business Analytics Services Ltd (TMLBASL) will be merged with Tata Motors. The passenger vehicle business, including electric vehicles and JLR, will continue under the parent entity, which will be renamed Tata Motors Passenger Vehicles Ltd.