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Tata Motors on Tuesday said it is appointing Thierry Bollore as the new Chief Executive Officer of Jaguar Land Rover (JLR), effective from September 10, 2020. He will be replacing Prof Sir Ralf Speth.
Bollore has extensive expertise in the automotive business, most recently as CEO of Groupe Renault and previously in senior positions at global automotive supplier Faurecia, the company said in a regulatory filing.
“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,” said N Chandrasekaran, Chairman of Tata Sons.
Commenting on his appointment, Bollore 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 Jaguar Land Rover 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.”
Speth will take up the previously announced position of Non-Executive Vice Chairman of Jaguar Land Rover, the company said.
“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,” said Chandrasekaran.
The appointment comes at a time when JLR is expected to face “further uncertainty” in this fiscal year, as pointed out by Chandrasekaran in JLR’s 2019-20 annual report. It will prioritise simplification, synergies and scale within the Tata Motors family, including working with partners when it makes sense to do so, he had said in the report.
JLR lost $630 million before tax in the three months ended March 31. Some of the ongoing industry challenges faced by JLR include preparing for Britain’s withdrawal from the European single market at the end of the Brexit transition period, albeit with little clarity yet on the shape of future trading arrangements, said Chandrasekaran.
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