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Tata Motors pays damages to CEO-designate

Tata Motors has compensated German national Marc Llistosella, whom it had hired to lead the company but withdrew the offer before he could take charge, it is learned. On Feb 12, Tata Motors announced the appointment of Llistosella as its chief executive. But it said a month later that he will not be joining the Mumbai-based company. Tata Motors didn’t give any reason for the change.

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