Overview

• The demerger becomes effective on October 1, 2025, separating the commercial-vehicle unit into TML Commercial Vehicles and the passenger-vehicle business into a distinct listed company.
• Shareholders will receive a 1:1 entitlement of TMLCV shares for each fully paid Tata Motors share, with the record date to be announced after required filings are completed.
• Shailesh Chandra is appointed MD and CEO of the passenger-vehicle entity from October 1 and will continue to lead Tata Passenger Electric Mobility.
• Girish Wagh will become MD and CEO of TML Commercial Vehicles on October 1 as part of the leadership realignment approved by the board.
• P B Balaji will leave the Group CFO role on November 17 to become JLR’s CEO, with Dhiman Gupta taking over as Tata Motors CFO; Sudha Krishnan joins as an additional independent director and other board moves shift directors to JLR and TMLCV.