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Corporate Shakeup in TATA Motors and Mindtree

Published: 19th January 2016 03:13 AM  |   Last Updated: 19th January 2016 03:14 AM   |  A+A-

Tata Motors Ropes In Ex-Airbus COO

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NEW DELHI: Homegrown auto major Tata Motors on Monday announced appointment of ex-Airbus COO Guenter Butschek as its Chief Executive Officer & Managing Director, two years after the death of its former MD Karl Slym.

“Tata Motors has appointed Guenter Butschek as Chief Executive Officer & Managing Director. Butschek will lead all operations of Tata Motors in India and in international markets, including South Korea, Thailand, Indonesia and South Africa,” the company said in a statement. Jaguar Land Rover would continue to be managed by its Chief Executive Officer and Director, Ralf Speth, who is also on the Board of Tata Motors, it added. Butschek (55) is expected to join the company by February, 15, 2016.

Commenting on the appointment, Tata Motors Chairman Cyrus P Mistry said: “Tata Motors is going through an exciting yet challenging phase and Butschek’s appointment comes at an opportune moment.”

Mindtree Rejigs Top Management

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BENGALURU: IT services firm Mindtree has reshuffled its top management by elevating CEO and MD Krishnakumar Natarajan as the Executive Chairman effective April 1.

This follows the stepping down of co-founder Subroto Bagchi. Executive Director and Head-Enterprise Service Lines Rostow Ravanan will replace Natarajan, while Bagchi will continue as an independent director.  “This is the culmination of a year-long succession planning exercise that the Board had undertaken after carefully considering several candidates,” Natarajan said.

Meanwhile, the company had posted a 7.2% rise in its net profit to `150.9 crore for the December quarter on strong growth across segments. Its net profit stood at `140.8 crore in the year-ago period. Revenue increased 33.2% to `1,214.5 crore for the said quarter from `911.7 crore in the year-ago period.

Mindtree also announced the acquisition of Magnet 360 for $50 million in cash, a move aimed at addressing the fast-growing cloud-based services market.

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