6 February, 2014
Tata Motors today announced that as an interim measure, consequent upon the sudden demise of the company’s Managing Director, Mr. Karl Slym, a Corporate Steering Committee (CSC) will provide oversight of strategy and key aspects of the company’s operations.
Mr. Cyrus P. Mistry will chair the CSC, which comprises all the current members of the company’s Executive Committee (Mr. Ravindra Pisharody, Mr. Satish B. Borwankar, Mr. C Ramakrishnan, Dr. T. A. Leverton, Mr. Ranjit Yadav, Mr. Mamillapalle Venkatram, Mr. Ankush Arora and Mr. Rajesh Bagga).
Mr. Mistry will also chair New Product Design and Engineering Review meetings.
In connection with these changes, Mr. Mistry has issued the following statement:
"I was deeply saddened by the tragic and untimely demise of Karl Slym, Managing Director of Tata Motors.
"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."
"As the company looks ahead, it is gratifying to note that 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."