Tata Motors sets up interim panel to oversee operations

MUMBAI (Reuters) - Tata Motors has set up a panel to oversee its operations and strategy as an interim measure after the sudden demise of the company's managing director, Karl Slym.

Tata Sons Chairman Cyrus P. Mistry will chair the committee, which will comprise all the current members of the company's executive committee, the company said in a statement on Thursday.

Mistry will also chair the new product design and engineering review meetings, it said.

The board expects to appoint a managing director in due course, Mistry said in the statement.

Tata Motors unveiled its first new models in four years on Monday, banking on two small cars to reverse the company's sliding passenger car sales in the face of growing foreign competition.

 

Monday's unveiling of the new cars came just over a week after Slym died after falling from the 22nd floor of a Bangkok hotel, in what police said may have been a suicide.

(Reporting by Subhadip Sircar; Editing by Subhranshu Sahu)