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New chief executive announced at JLR

Posted on 29 Jul 2020 and read 331 times
New chief executive announced at JLRCoventry-based Jaguar Land Rover (JLR) Ltd has announced that Thierry Bolloré will become its new chief executive effective from 10 September, taking over the role from Prof Sir Ralph Speth who will become non-executive vice chairman.

Natarajan Chandrasekaran, chairman of Tata Sons, Tata Motors and Jaguar Land Rover plc, said: “I am delighted to welcome Thierry to JLR. An established global business leader with a proven track record of implementing complex transformations, Thierry will bring a wealth of experience to one of the most revered positions in the industry.”

Mr Bolloré has extensive expertise in the automotive business, most recently as CEO of Groupe Renault and previously in senior positions at global automotive supplier Faurecia. He said: “JLR is known around the world for its peerless brand heritage, exquisite design and deep engineering integrity. It will be my privilege to lead this fantastic company through what continues to be the most testing time of our generation.

“Renowned for their passion and spirit, the people of JLR are the driving force behind its success. I couldn’t be more excited to join the team continuing to shape the future of this iconic company.”

Mr Chandrasekaran added: “I want to thank Ralf for a decade of outstanding vision and leadership for JLR and welcome him to his new non-executive position in addition to his existing role on the board of Tata Sons.”

JLR was acquired by Indian conglomerate Tata in 2008 and employs more than 43,000 staff at UK manufacturing sites in Halewood, Merseyside, and Solihull and Castle Bromwich in the West Midlands.

Last month JLR reported fourth quarter and full year pre-tax losses which it said will lead to the loss of around 1,100 agency staff after sales plummeted following the coronavirus lockdown.

It made a pre-tax loss of £501 million in the fourth quarter, while the pre-tax loss for the full year was £422 million, on revenues of £5.4 billion and £23 billion, respectively.