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Shares of Tata Motors today fell by nearly 6 per cent in morning trade after its Group CEO and Managing Director, Mr Carl-Peter Forster, quit due to “unavoidable personal reasons.”
The company’s stock tanked 5.84 per cent to touch an early low of Rs 143.80 on BSE. The stock was the worst performer among the Sensex scrips at 11 a.m.
The company, after the close of market on Friday last week, said Mr Forster has ceased to be the group CEO and Managing Director with immediate effect, due to unavoidable personal circumstances.
However, at the request of the board, Mr Forster will continue to serve the Board of Tata Motors Ltd as a non- executive member, it said.
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