Jaguar Land Rover CEO Adrian Mardell to stand down after nearly three years in top job
Jaguar Land Rover's chief executive Adrian Mardell will retire from his role after a 35-year career with the company, the firm has confirmed.
Mr Mardell joined the company in 1990, and took over as CEO in 2023 following the departure of Thierry Bollore. Over the past three years, he has overseen the firm's key transition into electric vehicles.
He was also credited with returning the business to positive free cash flow and the attainment of net zero automotive debt by the end of FY25.
In a brief statement, a spokesperson for Jaguar Land Rover (JLR) said: "Adrian Mardell has expressed his desire to retire from JLR after three years as CEO and 35 years with the company. His successor will be announced in due course.”
Mr Mardell oversaw the announcement of the firm's "reimagine" strategy, which will see £15bn invested between 2021 and 2026 in modernising JLR’s industrial footprint, including vehicle programmes, autonomous, AI and digital technologies.
As part of the changes, the firm announced that around £350m would be spent converting the company's Engine Manufacturing Centre in Wolverhampton, now renamed the Electric Propulsion Manufacturing Centre.
At the turn of the calendar year, the firm announced record quarterly revenue figures as its electric roll-out programme gathered momentum.
Around 57,000 people are now on the waiting list for the all-electric Range Rover model set to be launched later this year, while the firm also says sales of its Range Rover plug-in electric hybrid have grown by 163 per cent as customers switched from conventional petrol and diesel models.
For the three months to December 2024, revenue for the quarter was £7.5 billion, which is up 2 per cent year-on-year and JLR's highest quarter 3 revenue on record, while year-to-date revenue for the year remained flat at £21.2 billion.
The firm's profit before tax was £523 million, while year to date profit was £1.6 billion, representing the highest Q3 year-to-date profit in a decade for JLR.
The company is expected to make an announcement on a new chief executive shortly.
