Tata Motors has announced significant changes to its Board of Directors, including Independent Director cessations effective September 30, 2025 and October 1, 2025. New appointments were made, including Ms. Sudha Krishnan as an Additional, Non-Executive Independent Director starting October 1, 2025. Key Management Personnel (KMP) changes involve resignations and appointments related to the company’s business restructuring plan.
Independent Director Transitions
Several Independent Directors are stepping down from the Board: Ms. Hanne Sorensen (effective September 30, 2025), Mr. Kosaraju Veerayya Chowdary, and Mr. Guenter Karl Butschek (both effective October 1, 2025). These transitions are part of the broader restructuring.
New Independent Director Appointed
Ms. Sudha Krishnan has been appointed as an Additional, Non-Executive Independent Director, effective October 1, 2025, for a 5-year tenure. This appointment is subject to shareholder approval.
Key Management Personnel Changes
Mr. Girish Wagh will resign as Executive Director and KMP, effective October 1, 2025. He will transition to the Board of TML Commercial Vehicles Limited. Mr. Shailesh Chandra is appointed as an Additional Director, Managing Director & CEO, as well as KMP, effective October 1, 2025, for a 3-year term, subject to shareholder approval.
Mr. P B Balaji will resign as Group Chief Financial Officer & KMP effective November 17, 2025, and will later serve as the Chief Executive Officer of Jaguar Land Rover Automotive Plc, UK. Mr. Dhiman Gupta will become the Chief Financial Officer & KMP, effective November 17, 2025.
Additional Non-Executive Director
Mr. P B Balaji will be appointed as an Additional, Non-Executive, Non-Independent Director, effective November 17, 2025, subject to shareholder approval.
Details on Business Restructuring
The company’s business restructuring plan involves the demerger of the Commercial Vehicles Business into TML Commercial Vehicles Limited. Several directors will be joining the Board of this new entity. Changes are also influenced by the Composite Scheme of Arrangement approved by the Hon’ble National Company Law Tribunal.
NCD Transfers
The board has approved transferring a total of ₹2,300 crore worth of Non-Convertible Debentures (NCDs) to TML Commercial Vehicles Limited, with redemption dates ranging from May 29, 2026 to March 27, 2028. ISINs of transferred NCDs include INE155A08423, INE155A08407, INE155A08415, INE155A08449 and INE155A08464.
Source: BSE
