Indian automaker Tata Motors confirmed Monday that the company's managing director, Karl Slym, has died after a fall from a Bangkok hotel.
Slym joined Tata Motors in October 2012 after holding senior positions at General Motors ( in India, and had been implementing an ambitious turnaround plan at the time of his death. )
"Tata Motors deeply regrets to announce the untimely and tragic demise of its Managing Director, Karl Slym, in Bangkok," the company said in a statement.
Police Lt. Somyot Boonnakaew, the Thai officer leading the investigation, said the death was being treated as a possible suicide, and that a note had been found in Slym's 22nd floor hotel room.
Boonnakaew said that an autopsy will take about one week to complete. Slym was in Bangkok to attend a board meeting of Tata Motors Thailand, a company spokeswoman said.
Shares of Tata Motors ( tumbled almost 5% in morning trading in Mumbai as investors reacted to news of Slym's death. Tata Motors also owns Jaguar and Land Rover brands. )
Tata Motors has been hard hit as part of the broader global economic slowdown, and posted a 42% sales decline in December over the previous year. The automaker is expected to release third quarter earnings on Feb. 10.