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Monday, May 20, 2024

Jaguar Land Rover boss to leave business 'for personal reasons'

Jaguar Land Rover boss to leave business 'for personal reasons'

The surprise announcement comes just days after the company said its efforts to restore profitability were starting to bear fruit.
The chief executive of Jaguar Land Rover (JLR) has resigned, citing "personal reasons", just days after the automaker reported an improvement in its financial performance.

Thierry Bollore, who joined the UK business from Renault in September 2020, will be replaced immediately by chief financial officer Adrian Mardell on an interim basis, the company's Indian parent Tata Motors said.

It added that Mr Bollore would formally leave JLR at the end of the year.

He joined at a hectic and disruptive time for the industry as manufacturing and sales were hit by the COVID pandemic.

All the while, its existing schedules and transformation towards an electric-focused fleet of models have been damaged by the global shortage of chips.

It has a global order book above 200,000 vehicles and has been furiously securing new partnerships to bolster deliveries and profitability in the process.

Mr Bollore said of his departure: "I am immensely proud of what we have achieved together at Jaguar Land Rover over the last two years.

"The company's transformation and acceleration towards a sustainable, profitable future as a modern luxury business is underway at great pace.

"I would like to thank the whole team for their dedication and passion and I wish the entire organisation the very best for the future."

Natarajan Chandrasekaran, chairman of Tata Motors and JLR, added: "I want to thank Thierry for everything he has done at Jaguar Land Rover.

"The foundations for a successful transformation have been laid, leaving the company well poised for the future."
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