Auto major Tata Motors Ltd has appointed Thierry Bollore, former CEO of Renault, as the new chief executive officer of Jaguar Land Rover Plc with effect from September 10. Bollore succeeds Prof Sir Ralf Speth, who will assume the role of non-executive vice chairman in the company.
"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," Chandrasekaran, Chairman of Tata Sons, Tata Motors and Jaguar Land Rover plc said.
The new CEO has extensive expertise in the automotive business, most recently as CEO of Groupe Renault and previously in senior positions at global automotive supplier Faurecia, a company statement 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," Bollore said.
JLP recently entered into agreements with lenders in China for a secured term loan facility of 5 billion yuan ($704.50 million), marking its first debt financing in China. The appointment of new CEO comes at a time when the coronavirus pandemic has hit global automaker's supply chains and sales. Tata Motors this month reported a 64 per cent decline in group global wholesales, including that of JLR, to 91,594 in June quarter of the current financial year over year-ago. Global sales of JLR stood at 65,425 vehicles in the June quarter, it said adding that Jaguar wholesale units during the period were 17,971 vehicles, while Land Rover wholesales for the quarter were 47,454 vehicles.