Jaguar Land Rover’s boss Thierry Bolloré has announced that he is leaving the company.
The former Renault CEO’s tenure has ended due to ‘personal reasons’ and is set to take effect on December 31 officially. However, Adrian Mardell, JLR’s chief financial officer, will take on CEO responsibilities from today (November 16).
Bolloré has overseen a tumultuous period for the firm during his time as CEO, with ongoing component shortages continuing to hamstring progress. Earlier in the month, Jaguar Land Rover recorded a pre-tax loss of £173m in the second quarter of the 2022 financial year.
In a statement, 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 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.”
The brand has been helped by the introduction of its new Range Rover and Range Rover Sport models, which helped JLR to deliver a considerable improvement on the £302m pre-tax loss recorded in the third quarter of 2021.
Earlier this month Jaguar Land Rover stated that it had 205,000 pending orders, with the firm’s three most profitable models – the Range Rover, Range Rover Sport and Land Rover Defender – accounting for over 70 per cent of these orders.
Mr Chandrasekaran, chairman of Tata Sons, Tata Motors and Jaguar Land Rover plc 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.”