After only 18 months on the job (and he did a good job) Carl-Peter Forster resigned his job as group CEO and managing director of Tata Motors. In a press release, Tata cites “unavoidable personal circumstances”. The industry is scratching their combined heads: What are those reasons? Are they real, or the usual BS?
Tata should be pleased with Forster’s performance. During his watch, Tata’s profit shot up. In the fiscal year that ended 2011, Tata’s profits increased 300 percent, reports Automobilwoche [sub]. Jaguar and Land Rover are making money again. The Nano is still a basket case, but it was inherited by Forster. A Foster-child as opposed to a Forster-child.
Forster’s own statement does not bring more clarity:
“I deeply regret that my personal circumstances make it difficult for me to continue to perform the challenging duties of managing the thriving global activities of the Tata Motors Group with its main activities in India and the UK and increasingly in additional overseas markets.”
Son of a German diplomat, Forster was born in London, and raised in Athens and Bonn. After a successful career at BMW, Forster was appointed Chairman and Managing Director of Opel in April 2001. In June 2004, he became President of GM Europe. Forster did not agree with GM’s decision to not sell Opel to Magna and resigned 3 days after the announcement. 3 months later, he emerged as the CEO of Tata.
Forster will stay on as a non-executive director and board member of Tata.
If you know how to successfully run a large car company, send your resume to Tata. Not only are they looking for a replacement of Forster, the hunt is still on for s successor of Chairman Ratan Tata who will soon turn 75.