Tata Motors Limited has informed the Exchange regarding Change in Director(s) of the company.
TMPV · price
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Awaiting price reaction for this filing.
Tata Motors announced a sweeping board and leadership overhaul tied to the NCLT-approved Composite Scheme of Arrangement that splits its Passenger Vehicle (PV) and Commercial Vehicle (CV) businesses into two separate listed entities, effective October 1, 2025. Three Independent Directors (Hanne Sorensen, K.V. Chowdary, Guenter Butschek) are stepping down, with Chowdary and Butschek moving to the board of TML Commercial Vehicles Limited (TMLCV). Mr. Girish Wagh resigned as Executive Director and KMP to become MD & CEO of TMLCV, while Mr. Shailesh Chandra (currently joint MD of Tata Motors PV) was appointed as MD & CEO of the renamed Tata Motors PV for three years. Mr. P B Balaji resigned as Group CFO effective November 17, 2025, to become CEO of Jaguar Land Rover UK, with Mr. Dhiman Gupta (currently CFO of Tata Passenger Electric Mobility) taking over as CFO. Ms. Sudha Krishnan, a former IAAS officer, was appointed Independent Director for five years. Under the scheme, shareholders will receive 1 TMLCV share for every 1 Tata Motors share, and NCDs worth ₹2,300 crore will transfer to TMLCV.
This is a structural milestone, not a routine change. Existing Tata Motors shareholders will own shares in two listed entities post-October 1, with the company being renamed to Tata Motors Passenger Vehicles Limited. The reshuffle signals strategic continuity for the PV and EV businesses under Mr. Chandra, while the CFO-to-JLR-CEO transition ensures stable group-level finance leadership. Short-term share price reaction is likely muted as the restructuring was widely anticipated, but shareholders should track the record date for share entitlement and TMLCV listing.