JLR CEO Ralf Speth to retire in September 2020: Tata Motors

JLR CEO Ralf Speth to retire in September 2020: Tata Motors
Tata Motors announced the retirement of Ralf Speth as Executive Director and Chief Executive Officer of Jaguar Land Rover (JLR) at the end of his contract term in September 2020.

Chandrasekaran, Chairman of Tata Sons, Tata Motors and Jaguar Land Rover plc said "Professor Sir Ralf Speth has decided to retire from his current role as Executive Director and Chief Executive Officer of JLR at the end of his contract term in September 2020".

"I want to thank Ralf for his passion and commitment over the last 10 years. Ralf developed Jaguar Land Rover from a niche UK centric manufacturer to a respected, technological leading, global premium company."

"I am delighted that Ralf has agreed to maintain his relationship with JLR by becoming nonexecutive Vice Chairman."

"Ralf will also remain on the board of Tata Sons."

A search committee has been formed which will work with me to identify a suitable successor in the coming months, Tata Motors said in the filing.

Sir Ralf Speth has said: "I feel very honoured to have worked with so many dedicated and creative people, both inside and outside of JLR. We have elevated Jaguar and Land Rover. I want to say thank you for all their support and commitment. We offer our customers multi-award-winning products and will continue to surprise with the best pipeline of new, innovative products we have ever had. Personally, I am looking forward to new and exciting challenges".

Meanwhile, the company will announce its Q3FY20 numbers today.

Stock view:
Tata Motors Ltd is currently trading at Rs188.40, up by Rs0.35 or 0.19% from its previous closing of Rs188.05 on the BSE. The scrip opened at Rs191.05 and has touched a high and low of Rs192.50 and Rs187.30 respectively.




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