Jaguar Land Rover (JLR) chief Adrian Mardell will step down after more than three decades at the company, having said he wanted to retire after three years as CEO, a spokesperson for the carmaker said on Thursday.
His successor would be announced in due course, the spokesperson added.
Mardell, who joined JLR in 1990, became CEO in November 2022 — after a stint as CFO from June 2019 — and spearheaded a major brand revamp at Jaguar.
During his tenure, the British luxury carmaker — a wholly owned subsidiary of India’s Tata Motors — posted its highest profit in a decade, eliminated £5bn in debt and posted its strongest operational performance to date.
JLR in April paused exports of its British-made vehicles to the US for a month after President Donald Trump imposed a 25% tariff on all imported cars. It resumed exports in May.
The US, which accounts for almost a quarter of JLR’s global sales, is a key market for its high-margin Range Rover and Defender models.
JLR has no manufacturing presence in the US and its Range Rovers are built in Britain, now subject to a 10% levy, while its Defenders are assembled in Slovakia, which faces a 15% duty.
Jaguar has plants in Britain.
Mardell was among the guests at the opening of Trump’s new golf course in Scotland on Monday, part of the US president’s five-day visit to the UK.
Reuters
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