Cal Forster Resigns as Tata’s CEO

Cal Forster Resigns as Tata’s CEORecent reports have revealed that Mr. Carl – Peter Forster, the CEO of Tata Motors has resigned from his position. He was the CEO of the firm since more than a year and has explained that he had to leave his position due to unavoidable personal circumstances.

He is the owner of Land Rover and Jaguar brands and has also announced that he shall remain a non-executive member of the board of the company. He revealed the following in an email statement.

It is one of the largest auto companies in India and they had hired Forster to be their CEO from General Motors. Merely by the announcement of his resignation, Tata Motors has seen a plunge of 9.2%. It was revealed by Deepesh Rathore, the MD of his automotive firm in India that due to the debt crisis prevailing in Europe, there is a shortage of orders for jaguar cars, and there is a need to boost sales for the same in India as well.

“His exit as the head of the business is definitely negative. Investors may not get the same level of comfort they used to get from talking to Carl”, said Pramod Amthe, from the Royal Bank of Scotland branch in Mumbai.