Thierry Bollore has been revamping JLR's business model in an electric-focused strategy plan called "Reimagine."
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.
JLR hired former Renault boss Bollore as CEO in 2020 to return Britain's biggest carmaker 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.
Bollore has been revamping JLR's business model in an electric-focused strategy plan called "Reimagine." His efforts earned him a 2021 Automotive News All-Star award.
Bollore’s exit comes as JLR struggles to ramp up production amid industrywide supply chain issues, as well as making meaningful headway on electrification.
“The company’s transformation and acceleration towards a sustainable, profitable future as a modern luxury business is underway at great pace,” Bollore said in a statement.
JLR sales in the U.S. plunged 37 percent to 44,100 vehicles through the first nine months of 2022.
Back in February 2021, Bollore announced plans for Jaguar to ditch combustion engines completely by 2025, and for Land Rover to introduce electrified variants beginning a year earlier. The carmaker hasn’t given much further detail on its plans such as where it’ll build electric models or where it’ll source batteries from.
In May, Bloomberg News reported JLR was in talks with Northvolt AB and SVolt Energy Technology Co. about supplying batteries for a range of EVs it may assemble in Slovakia.
Reuters and Bloomberg contributed to this report.
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