Luxury car maker Jaguar Land Rover (JLR) has unveiled Thierry Bolloré as its new chief executive. He will take over from Prof Sir Ralf Speth on September 10, said Chandrasekaran, chairman of owner Tata Motors, as well as Tata Sons and Jaguar Land Rover.
Chandrasekaran said: “I am delighted to welcome Thierry to Jaguar Land Rover. “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.”
Thierry 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: “Jaguar Land Rover 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 J 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.”
Ralf Speth will take up the previously announced position of non-executive vice chairman of JLR. Chandrasekaran added: “I want to thank Ralf for a decade of outstanding vision and leadership for Jaguar Land Rover 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. It employs more than 43,000 staff and has UK car 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 axing of around 1,100 agency staff after sales fell off a cliff following the coronavirus pandemic.
It made a pre-tax loss of £501m in the fourth quarter, while the pre-tax loss for the full year was £422m, on revenues of £5.4bn and £23bn, respectively.
