MUMBAI/LONDON: Tata Motors Ltd. (TTMT), owner of the Jaguar and Land Rover brands, is being forced to search for a new chief executive officer as it fights to revive sales of the luxury sedan in the middle of worsening a debt crisis in Europe.
Carl-Peter Forster, 57, who helped the Jaguar Land Rover unit turn to profit in the year ended March 31, quit on September 9 after less than two years as the global head of India's largest car manufacturer citing "unavoidable personal circumstances." Forster's replacement will face the challenge of reversing six straight months of declining sales at Jaguar. Tata Motors, which last year got 35% of its revenue from the US and Europe, needs to find a head for the company soon to avoid derailing a plan to invest $2.4 billion annually in new models and expanding into China, says Deepesh Rathore, MD for IHS Automotive. "They are going to be left wondering who is going to replace him," Andrew Jackson spoke, an analyst at research firm Datamonitor in London. "This is a big blow really for Jaguar Land Rover. He signed off on a very bold change in direction for the company."Vcommindia News
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