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Tag: Girish Wagh

  • Tata Motors overhauls board as it splits commercial vehicle unit

    Tata Motors overhauls board as it splits commercial vehicle unit

    MUMBAI: Tata Motors is reshuffling its boardroom as India’s biggest carmaker prepares to spin off its commercial vehicle business into a separate listed entity. The Mumbai-based company announced sweeping changes to its leadership on 26 September, with three independent directors stepping down and a new managing director taking the helm.

    The biggest change sees Shailesh Chandra appointed as managing director and chief executive, replacing Girish Wagh, who will move to head the soon-to-be-listed TML Commercial Vehicles. Chandra, currently joint managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, will serve a three-year term from 1 October.

    Three independent directors are departing as part of the reorganisation. Hanne Sorensen, a former Tata Consultancy Services board member, will step down on 30 September  but remain on the board of Jaguar Land Rover, Tata Motors’ British luxury car unit. Kosaraju Veerayya Chowdary and Guenter Karl Butschek will both leave on 1 October  to join the commercial vehicles entity’s board.

    Replacing them is Sudha Krishnan, a former senior civil servant who retired in 2020 as member finance to India’s Space Commission and Atomic Energy Commission.  Krishnan, who has four decades of experience in public policy and finance, will serve a five-year term as independent director.

    The changes come as Tata Motors executes a composite scheme of arrangement approved by India’s National Company Law Tribunal. The demerger, which becomes effective on 1 October, will see shareholders receive one share in TML Commercial Vehicles for every share they hold in Tata Motors.

    In another significant move, P B Balaji will resign as group chief financial officer on 17 November  to become chief executive of Jaguar Land Rover. He will be replaced by Dhiman Gupta, currently chief financial officer of Tata Passenger Electric Mobility. Unusually,  Balaji will rejoin Tata Motors’ board as a non-executive director on the same day he steps down from his executive role.

    The restructuring reflects Tata Motors’ strategy to separate its commercial vehicle operations from its passenger car and Jaguar Land Rover businesses. The company is also transferring Rs 2,300 crore worth of non-convertible debentures to the commercial vehicles unit as part of the demerger.

    The board changes were approved at a meeting that ran from 2pm to 5pm on 26 September, with all appointments subject to shareholder approval.

  • Tata Motors slows down with 8.5 per cent dip in Q1 vehicle sales

    Tata Motors slows down with 8.5 per cent dip in Q1 vehicle sales

    MUMBAI: When the going gets tough, even the trucks slow down and Tata’s latest sales pitstop shows just that. Tata Motors hit a speed bump in the first quarter of FY26, clocking 2,10,415 units in total vehicle sales, a decline of 8.5 per cent year-on-year from 2,29,891 units in Q1 FY25. The slide was felt across both passenger and commercial segments, as domestic demand cooled off amid high base effects, macro headwinds, and flat market sentiment in May and June.

    Commercial vehicles bore the brunt, with total CV sales down 6 per cent YoY to 85,606 units. While HCV trucks fell 12 per cent, and small commercial vehicles (SCVs and pickups) dropped 17 per cent, there was some traction in ILMCV trucks and passenger carriers, which managed modest growth of 5 per cent and 1 per cent respectively. Interestingly, Tata’s international CV business was in overdrive revving up 68 per cent over the same quarter last year, thanks to new markets like Egypt and expanded play in the MENA region.

    Passenger vehicles also faced headwinds, with sales slipping 10% to 1,24,809 units, of which EVs contributed 16,231 units, a marginal 2 per cent dip YoY. The good news? Electric optimism is holding charge. EV sales picked up pace towards the quarter’s end, and new launches like the Altroz and Harrier.ev are expected to spark further momentum in the months ahead. The refreshed Tiago, meanwhile, zipped ahead with 16 per cent YoY growth.

    In the domestic market alone, Tata sold 2,03,411 vehicles, down 10 per cent, while international business sales rose on the back of a strong 67.9 per cent lift in CV exports.

    Tata Motors executive director Girish Wagh called it a “subdued start” to the fiscal, pointing to muted demand in heavy and small truck segments. But he remained upbeat, banking on a “healthy monsoon, repo rate cuts, and infrastructure push” to recharge CV demand in coming quarters. The company also launched India’s most affordable mini-truck, the Ace Pro, in multiple fuel variants, and introduced air-conditioned cabins across its truck range, a move aimed at improving driver comfort in gruelling conditions.

    Passenger Vehicles MD Shailesh Chandra, meanwhile, struck a cautiously optimistic note: “The EV segment was a bright spot,” he said, adding that Tata is “well positioned” to build on its lead with a fresh lineup across hatchbacks and SUVs.

    With the festive season on the horizon and fuel prices stabilising, Tata’s drive through FY26 may yet shift back into a higher gear. For now though, it’s a recalibration pitstop and the engines are humming, but not quite roaring.

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  • Tata Motors elevates Girish Wagh as ED; Guenter Butschek to step down

    Mumbai: Tata Motors has announced changes in its Board of Directors. The automaker has elevated Girish Wagh as executive director, with effect from 1 July. He currently serves as the president of commercial vehicles.

    The company also announced that Guenter Butschek will step down from his role as CEO and MD from 30 June. He would relocate to Germany at the end of the contract for personal reasons. “Butschek will continue as a consultant till the end of this fiscal year,” it said in a statement.

    President- passenger vehicles, Shailesh Chandra, CEO – Jaguar Land Rover, Thierry Bollore, and Wagh will continue to work closely with the chairman, N Chandrasekaran to lead Tata Motors, the company stated.

    Speaking on the latest announcement, Tata Motors’ chairman, N Chandrasekaran said, “I would like to thank Guenter for leading Tata Motors successfully over the last five years and creating a strong foundation for the future. I look forward to his continued inputs as a consultant to the company.”

  • Tata Motors launches elite wrestlers development program

    Tata Motors launches elite wrestlers development program

    MUMBAI: After announcing itself as the principal sponsor of the Wrestling Foundation of India (WFI) in August, Tata Motors Commercial Vehicles Business Unit  (CVBU) has further extended its support to the sport in an exemplary way by setting up the ‘Tata Motors Elite Wrestlers Development Program’. The official announcement for the same was made, in presence of the topmost players including Olympic medal winners Sushil Kumar and Sakshi Malik, in Mumbai.

    The aim of the Elite program is to promote, encourage, and develop rising Indian wrestlers and prepare them for the Olympic Gold medals. Through this, Tata Motors Commercial Vehicle Business will help nurture an international standard eco system for athlete support to help India create a new success stories at Tokyo 2020 & Paris 2024 Olympic Games. It will support the players with best possible training and coaching facilities, enabled by renowned foreign coaches, support staff, and international exposure.

    The program will appoint top class foreign coaches for both men and women squads, best possible support staff who will work both on the physical and mental development of the athletes and organise premium exposure trips for the elite Indian wrestlers so that they train and hone themselves according to the global training standards. The support staff will include experienced physiotherapists, biomechanics, mental trainers, and nutritionists. In addition, Tata Motors will also provide insurance cover to Indian wrestlers.

    As revealed at the event, this is for the first time in the history of Indian sports, Tata Motors, along with WFI has announced central contracts to a sport other than cricket, assuring guaranteed benefits to Indian wrestlers. The central contracts are annual retainers that will be spread across 150 players as per grades and assure basic annual earnings for the players, through the sport.

    Speaking on the occasion, Tata Motors president, CVBU Girish Wagh mentioned that sports is an important bridge to connect brands with the customers. He said, “Tata Motors, in line with its group’s heritage has constantly looked at encouraging sports and promoting sporting talent across India and overseas. Wrestling as a homegrown sport has definitely grown in popularity and needs further support in enhancing talent. We are strengthening our association with WFI by directing our efforts to promote, train and develop wrestling talent with advance coaching and international sporting experience.”

    He further added, “We hope these initiatives help the Indian team to perform better. Our best wishes to the team for the forthcoming Tokyo 2020 & Paris 2024 Olympic games."

    Commenting on the partnership, Wrestling Federation of India president Brijbhushan Sharan Singh said, " Tata Motors coming on board as Indian wrestling’s development partner will go a long way in creating a strong sporting ecosystem and strengthening our elite program. These facilities will help wrestlers focus fully on themselves and prepare for the toughest tests before winning medals for the country. WFI is grateful for the trust shown in the federation by Tata Motors and strongly believes that this binding and cooperation will eventually help make a strong beginning for wrestling in India.”

    The event further observed the handing over of central contract to five Grade A wrestlers including Bajrang Punia, Vinesh Phogat, Pooja Dhanda, Sushil Kumar, and Sakshi Malik.