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Jaguar Land Rover CEO Thierry Bollore is resigning due to personal reasons, parent Tata Motors said.
Bollore, 59, will step down effective Dec. 31, Tata said on Wednesday.
Adrian Mardell, currently JLR’s head of finance, will take over as interim CEO. Mardell has been part of Jaguar Land Rover for 32 years and is currently a member of its executive board.
Bollore has been revamping JLR’s business model in an electric-focused strategy called “Reimagine” with a plan to make all Jaguar cars fully electric by 2025 and offer battery variants of its Land Rover vehicles.
Bollore has also helped steer the automaker through a chip shortage that hammered the global auto industry.
JLR hired Bollore as CEO in 2020 to return Britain’s biggest automaker to profit after it took a big hit from the COVID-19 pandemic. Almost a year earlier, Bollore had been ousted as Renault CEO amid the fallout from the Carlos Ghosn scandal.
JLR said earlier this month its quarterly loss before tax narrowed to 173 million pounds ($206.06 million), while revenue rose 36 percent from a year earlier. It also expects positive profit margins and cashflow in the second half of 2023.
The division’s performance is key to India’s Tata Motors as it contributes nearly 60 percent to the group’s revenue from operations.