Stock in Tata Motors plummeted by over 6% on Monday, after police in Thailand said they were carrying out an investigation into the possible suicide of Karl Slym, the managing director of the company.
Slym fell on Sunday to his death from a Bangkok hotel room. He was on the 22nd floor when he fell. He was attending a board meeting at the Thai unit of the company.
Police said they were examining what they believe is a note that Slym apparently left behind.
Slym, who was born in Britain, was a 51-year old executive. He was in charge of Tata Motors, which is based in India, except for the UK Jaguar Land Rover unit.
Slym, who was a resident of Derby, England, had previously worked in Toyota in the UK and then for General Motors in both China and India. The British executive was a Tata Motors managing director since October of 2012. Tata Motors is just one unit of the giant company Tata Group.
Following the news of the death of Slym, stock in Tata Motors closed 6% down at 347 rupees.
Police in the capital city of Bangkok said they are now going on the assumption that the car executive has committed suicide. Somyot Boonyakaew an official with the police department said that investigators did not see any signs of a struggle in the hotel room Slym had been staying in with his wife.
Investigators said they had found an open window. The window was quite small so it would not have been a question of a person slipping.
The investigators said that Slym would have had to climb through the opening to fall out since he was a large man.
A letter of three pages left in English apparently written by Slym was sent to a lab for analysis to confirm he had been the one to write it.
Police said an autopsy would be performed on Monday. Officials from Tata Motors would not comment on Slym’s possible cause of death.
Cyrus Mistry, the chairman at Tata called Slym a valued colleague who provided leadership at a time that the auto industry in India has been challenging.