JLR CEO Thierry Bollore resigns on personal grounds, Adrian Mardell takes interim charge

Thierry Bolloré, Chief Executive Officer (CEO) of Jaguar Landrover Automotive, UK has resigned from the company due to personal reasons, with effect from December 31, 2022.

Adrian Mardell will be taking over as Interim CEO from Wednesday, Tata Motors said in a statement.  

Thierry Bolloré took charge as Jaguar Land Rover's Chief Executive Officer in September 2020. Within six to eight months of taking charge, Bollore had announced the mid-term roadmap of Reimagine for Jaguar Land Rover.

The plan envisaged the Jaguar brand to turn all-electric from 2025, exit the diesel market by 2026 and set itself an ambitious vision to be a net-zero carbon business by 2039. 

On the resignation Bolloré said: “I am immensely proud of what we have achieved together at Jaguar Landrover over the last two years. The company's transformation and acceleration towards a sustainable, profitable future as a modern luxury business is underway at a great pace.”

Natrajan Chandrasekaran, Chairman of Tata Motors and Jaguar Land Rover said: “I want to thank Thierry for everything he has done at Jaguar Land Rover. The foundations for a successful transformation have been laid, leaving the company well poised for the future.”

The new plan that Bollore had crafted put a significant focus on profitability over volumes. It had set a target of double-digit EBIT margin and positive cash flow, with an ambition to achieve positive cash net-of-debt by 2025 with a value creation approach delivering quality and profit over-volume.  

At the heart of its new plan will be the electrification of both Land Rover and Jaguar brands on separate architectures with two clear, unique personalities. 

Tata Group had set a target to make JLR one of the most profitable luxury manufacturers in the world. 

It had announced plans of offering electric powertrain across its vehicle models, by 2030. By then, 100 percent of Jaguar sales and around 60 percent of Land Rovers sold will be equipped with zero tailpipe emission powertrains, the company had then said.  

Mardell, the interim CEO who takes immediate charge has been part of Jaguar Land Rover for 32 years and a member of the Executive Board for the last three years.

Bolloré has also resigned as Non-Executive Non-Independent Director of Tata Motors with effect from December 31, 2022.

Having started his leadership career in 1990 as Shop Manager of Michelin’s Heavy Truck tyre factory, Bolloré has more than 30 years’ experience of international business.

After 12 years with Michelin, he then joined global automotive supplier Faurecia in 2005 as Vice President, Asia, Exhaust Systems Product Group, based in China. 

After successful tenures in a variety of senior positions including worldwide Vice President in charge of Industry, Quality and Purchasing for Faurecia Emissions Control Technologies (FECT), Bolloré joined Groupe Renault in 2012.

Joining as the global OEM’s Industry and Supply Chain Group EVP, Mr Bolloré then took on the role of Chief Competitive Officer in 2013 before becoming Chief Operating Officer in 2018 and finally Chief Executive Officer, Groupe Renault in 2018. 

He was also a member of the Groupe Renault Executive Committee while also sitting on the Board of Directors for both Avtovaz and DRAC (Dong Feng Renault Automotive Company).

Bolloré has an MBA from Paris-Dauphine University, specialising in Finance. In addition to his native French, he is fluent in English and German and well versed with the Japanese language.