Jaguar Land Rover’s CEO, Thierry Bolloré, Steps Down
BERLIN—Jaguar Land Rover Automotive PLC Chief Executive Thierry Bolloré is stepping down at the end of the year for personal reasons, the car maker said Wednesday.
His departure comes as the company struggles to improve sales and earnings after taking a hard hit during the pandemic. A former CEO of French car maker
Renault SA,
Mr. Bolloré was hired in 2020 and has been working to refocus JLR onto electric vehicles.
The news of Mr. Bolloré’s resignation was published in a regulatory announcement from JLR’s executive board by
Tata Motors Ltd.
on the Mumbai stock exchange earlier on Wednesday.
“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 toward a sustainable, profitable future as a modern luxury business is under way at great pace,” Mr. Bolloré said.
Before joining JLR, Mr. Bolloré was chief executive of Renault but was ousted in October 2019 after he clashed with Nissan Motor Co., Renault’s alliance partner, over the Japanese car maker’s performance and its handling of the Carlos Ghosn affair.
At JLR, Mr. Bolloré worked to hone the company’s models, and accelerate the electrification of core models such as the Range Rover, Discovery, Defender and Jaguar.
In the most recent quarterly results, published earlier this month, JLR reported a 36% increase in sales and narrowed its quarterly loss to 173 million pounds from 302 million pounds, equivalent to $205.3 million to $358.4 million, a year ago.
The luxury car maker known for its upscale off-road vehicles and Jaguar sports cars declined to comment about the reasons behind Mr. Bolloré’s decision to leave after serving for two years as its CEO.
Adrian Mardell,
JLR’s finance chief and 32-year veteran of the company, will assume Mr. Bolloré’s duties as interim CEO until a permanent replacement has been chosen. It isn’t clear if Mr. Mardell is a candidate or has applied to become CEO permanently.
Mr. Bolloré couldn’t be reached for comment.
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
BERLIN—Jaguar Land Rover Automotive PLC Chief Executive Thierry Bolloré is stepping down at the end of the year for personal reasons, the car maker said Wednesday.
His departure comes as the company struggles to improve sales and earnings after taking a hard hit during the pandemic. A former CEO of French car maker
Renault SA,
Mr. Bolloré was hired in 2020 and has been working to refocus JLR onto electric vehicles.
The news of Mr. Bolloré’s resignation was published in a regulatory announcement from JLR’s executive board by
Tata Motors Ltd.
on the Mumbai stock exchange earlier on Wednesday.
“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 toward a sustainable, profitable future as a modern luxury business is under way at great pace,” Mr. Bolloré said.
Before joining JLR, Mr. Bolloré was chief executive of Renault but was ousted in October 2019 after he clashed with Nissan Motor Co., Renault’s alliance partner, over the Japanese car maker’s performance and its handling of the Carlos Ghosn affair.
At JLR, Mr. Bolloré worked to hone the company’s models, and accelerate the electrification of core models such as the Range Rover, Discovery, Defender and Jaguar.
In the most recent quarterly results, published earlier this month, JLR reported a 36% increase in sales and narrowed its quarterly loss to 173 million pounds from 302 million pounds, equivalent to $205.3 million to $358.4 million, a year ago.
The luxury car maker known for its upscale off-road vehicles and Jaguar sports cars declined to comment about the reasons behind Mr. Bolloré’s decision to leave after serving for two years as its CEO.
Adrian Mardell,
JLR’s finance chief and 32-year veteran of the company, will assume Mr. Bolloré’s duties as interim CEO until a permanent replacement has been chosen. It isn’t clear if Mr. Mardell is a candidate or has applied to become CEO permanently.
Mr. Bolloré couldn’t be reached for comment.
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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