Tata Motors names Marc Llistosella as new CEO, MD
Tata Motors on Friday said it has appointed Marc Llistosella as its chief executive officer and managing director. He is the former president and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia. Llistosella, whose appointment will be with effect from July 1, 2021, will succeed Guenter Butschek, who has expressed his desire to relocate to Germany at the end of the contract for personal reasons, Tata Motors said in a regulatory filing. “I am delighted to welcome Marc to Tata Motors. Marc is an experienced automotive business leader with deep knowledge and expertise in commercial vehicles over his illustrious career and has extensive operational experience in India,” Tata Motors chairman N Chandrasekaran said. Marc will bring this experience to take the Tata Motors’ Indian business to even greater heights, he added. Commenting on his appointment Llistosella said, “Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors”.
Retail inflation falls to 16-month low in India
Retail inflation based on consumer price index (CPI) eased to 16-month low of 4.06 per cent in January, mainly due to a sharp decline in food prices, , government data showed on Friday. The inflation number stood within the Reserve Bank of India’s (RBI’s) target of 2-6% for the second consecutive month. The figure stood at 4.59 per cent in December last year. The rate of price rise in the food basket was 1.89 per cent in January, significantly down from 3.41 per cent in December. The central bank, which mainly factors in retail inflation while arriving at key policy rates, has been mandated by the government to keep inflation at 4 per cent (+, – 2 per cent). The central bank had maintained status quo in the policy rate earlier this month due to high inflation. In another set of data released by the government, industrial production grew by 1 per cent in December. According to the Index of Industrial Production (IIP) data, the manufacturing sector output grew by 1.6 per cent in December 2020. While, mining output declined by 4.8 per cent, and power generation grew 5.1 per cent in December 2020.
