New JLR chief set to take helm amid crisis

Ex-Renault boss takes over as sales and profits plummet

THE former head of Renault has been appointed as the new chief executive of Jaguar Land Rover as it faces one of the most uncertain periods in its history.

Thierry Bolloré will take up the role at the West Midlands car giant on September 10, replacing Sir Ralf Speth who announced in January that he planned to step down.

Mr Bolloré will have to begin by guiding JLR through the worst crisis for the car industry in living memory as consumer demand plummeted amid the economic crisis prompted by Covid-19.

The 57-year-old is an automotive industry veteran and spent seven years with French carmaker Renault, including spells as its chief operating officer and chief executive until October last year. Previously, he held a number of senior positions at global automotive supplier Faurecia and tyre manufacturer Michelin.

Mr Bolloré 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.”

Mr Bolloré will take over the top role just three months after the company announced heavy annual losses and the axing of around 1,100 agency staff.

In June, the manufacturer posted a £422 million pre-tax loss for the 12 months to April 2020, coupled with a £501 million loss in the fourth quarter of the same financial year.

JLR previously said the Covid-19 pandemic had significantly impacted both sets of figures, with fourth quarter retail sales down by 31 per cent and full-year sales down 12 per cent year-on-year.

The company also revealed earlier in the summer that it planned to shed more than 1,000 agency staff at its plants in Solihull, Castle Bromwich and Merseyside by the end of this year.

Jaguar Land Rover chairman Natarajan 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.”

Sir Ralf will take up the position of non-executive vice-chairman of Jaguar Land Rover.

Mr Chandrasekaran added: “I want to thank Ralf for a decade of outstanding vision and leadership and welcome him to his new nonexecutive position in addition to his existing role on the board of Tata Sons.”

JLR is headquartered in Coventry and operates factories in Birmingham, Solihull, Wolverhampton and Halewood in Merseyside.