Tata Motors, India's largest automobile company and leader in commercial vehicles across segments announced that Marc Llistosella has been appointed to the role of Chief Executive Officer and Managing Director of the company effective July 1, 2021.

N Chandrasekaran, Chairman, Tata Motorsd said, "I am delighted to welcome Marc to Tata Motors. Marc is an experienced automotive business leader with deep knowledge and expertise in Commercial Vehicles over his illustrious career and has extensive operational experience in India. Marc will bring this experience to take the Tata Motors Indian business to even greater heights."

Llistosella was most recently the President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia. He was earlier the MD and CEO of Daimler India Commercial Vehicles.

Commenting on his appointment Llistosella said, "I am delighted to become a part of the unique Tata family. Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors."

Guenter Butschek has informed his desire to relocate to Germany at the end of the contract for personal reasons. He has kindly accepted the request of the Board of Tata Motors to continue as the MD & CEO till 30th June 2021.

Chandrasekaran added, "I would like to thank Guenter for leading Tata Motors successfully over the last 5 years."

Shares of the company gained Rs 8.15, or 2.51%, to trade  at  Rs 333.40.  The total volume of shares traded  was  3,581,300 at  the BSE (3.27 p.m, Monday).