Temporary CEO may stay
JLR – formerly Jaguar Land Rover – is undergoing quite a turnaround. The financially troubled company is gearing up for the EV future under the leadership of a new captain.
At the end of 2022, Thierry Bolloré reported that he was going to step down as CEO of Jaguar Land Rover. Former Chief Financial Officer Adrian Mardell has since taken over on an interim basis, but has been appointed permanent CEO by the company now known as JLR. Mardell says he is of course delighted with his permanent appointment as CEO, but he is not going to have an easier period.
Jaguar Land Rover recently announced that it would go through life as JLR, but that was the smallest news that the English conjured up. Over the next five years, JLR will invest €17 billion, mainly in the development of new electric models. JLR is now a ‘brand house’ with Range Rover, Defender, Discovery and Jaguar as brands. Around 2024, Jaguar will launch an electric GT with a range of 700 kilometers, but there is much more in the pipeline. JLR hopes to return to profitability in 2026 and it is Mardell who must realize this shareholder dream.
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