Jaguar Land Rover CEO Thierry Bolloré Resigns
- Thierry Bolloré has resigned as CEO of Jaguan Land Rover from Dec 31, 2022.
- JLR's Adrian Mardell took over as Interim CEO from November 16, 2022.
- Thierry Bolloré is leaving the company citing personal reasons.
Jaguar Land Rover’s Chief Executive Officer (CEO) Thierry Bolloré has resigned from the company citing personal reasons. JLR’s parent company, Tata Motors, announced this information in a regulatory filing on November 16, 2022. Bolloré will be officially leaving the company on December 31, 2022, and Adrian Mardell took over as Interim CEO from November 16, 2022. Adrian has been part of Jaguar Land Rover for 32 years and has been a member of its Executive Board for the last three years.
Announcing his resignation, Bolloré said, "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 a 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.”
Also Read: Tata Motors Reports Consolidated Net Loss Of Rs. 945 Crore In Q2FY2023; Revenue Jumps 30%
Thierry Bolloré was appointed as CEO of Jaguar Land Rover in September 2020, replacing Ralf Speth.
Furthermore, in its regulatory filing, Tata Motors has additionally said that Thierry Bolloré has also resigned as Non-Executive Non-Independent Director of Tata Motors Limited, effective from December 31, 2022.
N Chandrasekaran, Chairman of Tata Sons, Tata Motors and Jaguar Land Rover said, "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."
Thierry Bolloré was appointed as CEO of Jaguar Land Rover in September 2020, replacing Ralf Speth. During his tenure, JLR started to see a positive transformation. In fact, in Q2 FY2023, Jaguar Land Rover, reported total revenue of £5.3 billion (Rs. 43,365 crore) in Q2 FY23, up 36 per cent year-on-year from Q2 FY22. The company’s wholesale volumes (excluding China JV) stood at 75,307 units, up 17.6 per cent year-on-year and 4.9 per cent on the prior quarter.
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