Jaguar Land Rover boss quits as supply chain woes hit profits
THE boss of Britain’s biggest car maker Jaguar Land Rover (JLR) is quitting after just two years as supply chain issues hit profits.
Thierry Bollore steps down as chief executive at the end of the year for undisclosed ‘personal reasons’, the company said.
The move fuels questions about JLR’s strategy. A global shortage of computer chips has left it behind rivals in the queue for supplies. Its persistent losses are likely to have frustrated Indian owners Tata Motors.
The exit comes a week after JLR reported a loss of £173m for the three months to September 30. Bollore launched a strategy which included turning Jaguar into an all-electric brand.
His departure may signal that the board wants to go faster in pursuing the strategy.
Bollore yesterday said he was ‘immensely proud’ of JLR’s last two years. ‘The transformation and acceleration towards a sustainable, profitable future as a modern luxury business is under way at great pace,’ he said.
Finance director Adrian Mardell will be interim chief executive.