News is that Mr.Carl Forster has stepped down from his position with immediate effect, due to his unavoidable personal circumstances. However, at the request of the Board, Mr. Forster will continue to serve the Board of Tata Motors Limited as a non-executive member.
Ratan Tata said:
The Board respects Carl-Peter's personal circumstances that led to this move. We would like to thank him for his contributions to the successful development of our company in his role as Group CEO and MD. We are looking forward to continue to working with him as a non-executive member of the Board.
I deeply regret that my personal circumstances make it difficult for me to continue to perform the challenging duties of managing the thriving global activities of the Tata Motors Group with its main activities in India and the UK and increasingly in additional overseas markets. I am glad to continue my association with Tata Motors.