Jaguar Land Rover CEO Adrian Mardell steps down
"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," a JLR spokesperson said in a statement.
Mardell joined JLR in 1990, holding various positions mostly related to finance until being appointed as CEO in 2023, replacing Thierry Bolloré. He oversaw a prosperous period for JLR, which went from a weak financial state in the wake of the coronavirus pandemic to posting its best profits in a decade last year. Granted, that was helped by the popular (and profitable), current-generation Range Rover and Defender, which launched before Mardell took over but saw initial sales damped by the pandemic.
Related: How the Defender Became Land Rover's Best-Selling Model
Mardell also oversaw major changes at both of JLR's brands. At Land Rover, the Defender, Discovery, and Range Rover nameplates were elevated to brands in their own right. It was a logical extension of the strategy that led to the creation of spinoff models like the Range Rover Evoque and Velar, but does mean the Land Rover name itself takes a back seat these days.
At Jaguar, Mardell started the transformation into a more high-end EV brand heralded by the Jaguar Type 00 concept. The first of Jaguar's new generation of EVs is expected to be unveiled later this year and start production in 2026. Until then, the brand is essentially on hiatus.
While Mardell's successor will inherit a stronger automaker, they'll still face challenges. The first of Jaguar's EVs has already been delayed by a few months, along with an electric version of the Range Rover, according to a recent report. JLR hasn't confirmed how long these delays will last.
There's also the matter of the Trump Administration's tariffs. Under the most recent trade deal, the first 100,000 vehicles imported from the United Kingdom to the United States will be subject to a 10% tariff, while any subsequent vehicles will be hit with a 25% tariff. JLR also assembles the Defender and Discovery in Slovakia, meaning those models will be subject to a 15% tariff, per the most recent trade deal between the U.S. and the European Union.
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