Tata Motors slips 4% on sudden demise of MD Karl Slym

NEW DELHI: Tata Motors Ltd plunged 4 per cent in trade on Monday, after its MD Karl Slym, who was handpicked by Ratan Tata to revive the fortunes of the company in India, died in Bangkok on Sunday in a freak accident at the hotel where he was staying. He was 51.

At 09:30 a.m.; Tata Motors was trading 3.5 per cent lower at Rs 357.35. It has hit a low of Rs 355.65 and a high of Rs 365.80 in trade today.

Slym, who was in Bangkok to attend a board meeting of Tata Motors Thailand, reportedly fell from the 22nd floor of the Shangri-La Hotel to the fourth floor. Hotel executives declined comment. Police authorities are probing the death, ET reported.

Tributes poured in from colleagues and his peers at other companies, as Slym had become a familiar figure in the Indian automobile industry, having spent almost six years in India, after beginning his career in the UK.