Jaguar Land Rover Chief Executive Officer Thierry Bolloré Resigns

Tata Motors-owned Jaguar Land Rover chief executive officer Thierry Bollore announced his resignation from the luxury car company citing personal reasons. He will leave the company on 31^st December 2022. Adrian Mardell will take over as Interim. Adrian has been part of Jaguar Land Rover for 32 years and a member of the Executive Board for three years.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Jaguar Land Rover Chief Executive Officer Thierry Bolloré Resigns- Key Points

• The departure of Bolloré comes as Tata Motors continues to report mammoth quarterly losses due to supply-side constraints (mainly semiconductor shortage) at JLR, which has taken a heavy toll on its production capability.
• JLR had an order book of 205,000 units and it expects an improvement in volumes in the second half of the financial year ending March 2023 and beyond.
• Tata Motors had last week reported a consolidated net loss of Rs 945 crore in the September quarter (Q2FY23) as against a net loss of Rs 4,442 crore in the year-ago quarter (Q2FY22).
• In the preceding June quarter, Tata Motors had reported a consolidated net loss of Rs 5,007 crore.
• All these losses were attributed to production loss at JLR as domestic passenger vehicle and commercial vehicle business saw an uptick.

Find More Appointments Here