PB Balaji succeeds Adrian Mardell as new CEO of JLR
He succeeds Adrian Mardell, who retired after three years as CEO and 35 years with the company.
Balaji has served as the group CFO of the Tata Motors Group since November 2017 and has 32 years of experience in the automotive and consumer goods industries, across finance and supply chain functions. He has led global teams in multicultural environments in Mumbai, London, Singapore and Switzerland, and has been closely associated with the successful transformation of the Tata Motors Group.
Tata chair Natarajan Chandrasekaran said: 'I would like to thank Adrian for the stellar turnaround of JLR and for delivering record results. I am delighted to appoint Balaji as the incoming CEO of the company. He has been associated with the company for many years and is familiar with the company, its strategy and has been working with the JLR leadership team.'
During Mardell's tenure, JLR posted its highest profit in a decade, eliminated £5bn (R118.8bn) in debt and posted its strongest operational performance to date.
It also made progress in its Reimagine Strategy, which aims to transform the company into a modern luxury business focused on sustainability and electrification. It involves reimagining both the Jaguar and Land Rover brands, with Jaguar becoming an all-electric luxury brand and Land Rover to launch electric variants.
Jaguar has a new logo and has undergone a dramatic styling renaissance. Its first new-generation electric vehicle (EV), based on the recently revealed Vision Type 00 concept car, is due to be unveiled later this year.
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