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Tata Motors has set up a committee to oversee its operations following the sudden demise of Managing Director Karl Slym. The corporate steering committee will be headed by group Chairman Cyrus P Mistry.
Set up as an “interim measure”, the committee will provide “oversight of strategy and key aspects of the company’s operations”, Tata Motors said in a statement.
The other members of the panel are Ravindra Pisharody, Satish B. Borwankar, C. Ramakrishnan, TA Leverton, Ranjit Yadav, Mamillapalle Venkatram, Ankush Arora and Rajesh Bagga, all executive committee members.
Mistry, who took over as Chairman of the salt-to-software conglomerate in December 2012, will also chair the auto major’s new-product design and engineering review meetings.
“The board expects to appoint a Managing Director in due course,” Mistry said, adding that the company would pursue the strategy, which had been defined, and which Slym 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,” he said.
Slym plunged to his death last month from an upper floor of a Bangkok hotel.
On Monday, Tata Motors launched the Bolt hatchback and Zest compact sedan, its first new models in four years. Tata Motors shares rose 0.52 per cent on the BSE on Thursday to close at 357.65.
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