After two years and six consecutive quarterly losses, global JLR head Thierry Bolloré has resigned
Jaguar Land Rover’s chief executive officer Thierry Bolloré will step down from the top job at Jaguar Land Rover after just two years, announcing he was leaving for “personal reasons”.
Tata Motors, the British car-making group’s owner, confirmed that Bolloré, who joined JLR after an eight-year stint at Renault, will leave at the end of this year.
Racking up consecutive pre-tax losses for the past six straight quarters while other premium brands were returning record profits, JLR has continually reported that it has been hit hard by the ongoing semiconductor crisis.
This has led to numerous production delays and temporary factory closures.
Taking over the reins following Bolloré’s departure will be JLR’s current chief financial offer Adrian Mardell, who has already announced his company is “working tirelessly” to resolve its supply problems.
Part of the new response to its difficulties is prioritising parts of the carmaker’s new Range Rover and Range Rover Sport, which offer higher profits over smaller less expensive models.
According to insiders, Tata has already begun the search for Bolloré’s replacement.
Following his arrival, the former Renault boss focused the JLR business on fast-tracking the introduction of pure-electric vehicles and simultaneously pushing the brand upmarket.
Bolloré also promised to relaunch Jaguar in 2025 as an all-electric luxury brand, though some analysts have noted JLR has yet to name a long-term battery partner for its huge expansion plans.
Sources suggest Tata is in secret rescue talks with struggling battery supplier Britishvolt, which is on the brink of bankruptcy.
Commenting on his departure Bolloré said he was “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,” he said.
Currently, JLR says it has global orders for more than 200,000 vehicles.
Natarajan Chandrasekaran, chairman of Tata Motors and JLR, 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.”
– John Mahoney
