Jaguar Land Rover boss Bollore quits as supply chain woes hit profits
>
Jaguar Land Rover boss Thierry Bollore resigns as supply chain problems weigh on profits for Britain’s largest carmaker
- Bollore to step down at the end of the year for undisclosed ‘personal reasons’
- His departure comes a week after JLR reported a £173m loss in the third quarter
<!–
<!–
<!–<!–
<!–
<!–
<!–
The boss of Britain’s largest carmaker, Jaguar Land Rover (JLR), is stepping down after just two years as supply chain problems weigh on profits.
Thierry Bollore will step down as CEO 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 line for supplies. The ongoing losses are likely to have frustrated Indian owners Tata Motors.
Exit: Thierry Bollore’s exit comes a week after JLR reported a £173m loss in the third quarter
The exit comes a week after JLR reported a loss of £173 million for the three months to September 30.
Bollore launched a strategy that included turning Jaguar into a fully electric brand.
His departure may be a signal that the board wants to move faster in pursuing the strategy.
Bollore said yesterday he was “extremely proud” of JLR’s past two years.
“The transformation and acceleration towards a sustainable, profitable future as a modern luxury company is underway at a rapid pace,” he said.
Chief Financial Officer Adrian Mardell becomes interim CEO.