Stock market today: Amid reports of unhappy top executives leaving Tata Motors Ltd ahead of the demerger, Tata Motors’ share price witnessed strong selling pressure in the early morning session on Friday. Tata Motors’ share price today opened lower at ₹686 aoice on the NSE and hit an intraday low of ₹673.30 per share within an hour of the Opening Bell.
Tata Motors’ demerger details
Tata Motors Ltd. announced the business demerger plan in March 2024. The auto major is undergoing a talent mapping exercise to bifurcate top executives handling common business operations and allocate them to either company. As per the Mint report, after the announcement of Tata Motors demerger, the executive search firm Egon Zehnder and consultants Boston Consulting Group and McKinsey were appointed to talent map and chalk out the finer details of the split.
This exercise left some of these senior executives of Tata Motors Ltd unhappy with their new posts, which could be the reason for some of the exits, a consultant working with Tata Motors said onanonymity.
“After the split was announced, if you were holding a senior post for both businesses, now you will hold for either one. The team size and the portfolio will get reduced. Hence, some of the exits,” this executive said.
These include Biswaroop Mukherjee, who was head of human resources for the commercial vehicles business unit; Anurag Mehrotra, vice-president for international business and strategy; Vinay Pant, chief marketing officer–passenger vehicles; Vinay Pathak, head of product planning and program management–commercial vehicles; Sampada Inamdar, head of training and development; and Devendra Katiyar, chief safety officer.
Ashish Tandon, senior general manager (small commercial vehicles), also quit during this period.
Two of these executives have joined Tata Motors’ rivals. Mehrotra now heads JSW MG Motor India as its managing director and Tandon is global head–customer excellence at Euler Motors. Mukherjee has since joined Aker Solutions as vice president–people and transformation.
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