JLR changes CEO amid challenging times

On July 31, British automaker JLR (Jaguar Land Rover) announced the retirement of its Chief Executive Officer, Adrian Mardell. He has been with the company for 35 years, including the past three years as CEO. His tenure will conclude on December 31.

Despite some recent successes—including a tenth consecutive profitable quarter and approximately $2.5 billion USD in profit for the latest fiscal year—indications suggest tougher times ahead. JLR has already announced plans to lay off approximately 500 executives in anticipation of declining margins and a weaker U.S. dollar, as the United States remains its largest market.

(Photo JLR)

Éric Descarries

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