Jaguar Land Rover's Adrian Mardell Stepping Down: A Legacy of Transformation
Adrian Mardell, CEO of Jaguar Land Rover, is retiring after over three decades. Mardell led a brand revamp, helping the carmaker achieve its highest profit in a decade, while eliminating significant debt. The company faced challenges in the U.S. market due to tariffs on imported vehicles.
Jaguar Land Rover's chief executive, Adrian Mardell, is set to retire after more than thirty years at the company, a spokesperson confirmed on Thursday. Mardell, who assumed the role of CEO in November 2022 after a period as CFO starting in June 2019, expressed his intention to retire following a successful three-year tenure.
Under his leadership, the British luxury carmaker, owned by India's Tata Motors, reported its highest profit in a decade, slashed £5 billion ($6.6 billion) in debt, and achieved unparalleled operational performance. A significant challenge during his term was a pause in exports to the U.S. after the imposition of a 25% tariff by former President Donald Trump, resuming after a month.
The U.S. remains crucial for JLR, accounting for nearly a quarter of global sales, especially of its luxury Range Rover and Defender models. Despite the market challenges, the company continues manufacturing Range Rovers in Britain and assembling Defenders in Slovakia, both subject to new tariffs.
(With inputs from agencies.)
Google News