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Tata Motors Stock Falls 6 Percent After Chief Executive Quits
Monday, 12 September 2011, 21:44 IST
New Delhi; Shares of the Indian automobile giant Tata Motors Monday fell almost six percent following the resignation of its group chief executive officer and managing director Carl-Peter Forster last week.
The company said that Forster was stepping down with immediate effect citing unavoidable personal reasons.
At the Bombay Stock Exchange, the scrip fell to an intra-day low of 
143.80, down 5.84 percent from its previous close at 152.72.
The stock later recovered and was still trading 4.76 percent lower a little after 1 p.m. to sell at 145.45.
According to a company release here, Forster will, however, continue to serve the board of the automobile major as a non-executive member.
Forster joined the company in January 2010. Apart from the company's local operations, he also headed its overseas units, including the Britain-base
Source: IANS
143.80, down 5.84 percent from its previous close at 152.72.
The stock later recovered and was still trading 4.76 percent lower a little after 1 p.m. to sell at 145.45.
According to a company release here, Forster will, however, continue to serve the board of the automobile major as a non-executive member.
Forster joined the company in January 2010. Apart from the company's local operations, he also headed its overseas units, including the Britain-base
Source: IANS