Jaguar is a British luxury vehicle company owned by Tata
Motors, one of the largest automotive manufacturers in the world.
Thierry Bollore will be the new Chief Executive Officer
(CEO) of Jaguar Land Rover (JLR), Jaguar Land Rover (JLR) owned by Tata Motors
(Tata Motors). The company said on Tuesday that its tenure would be effective
from September 10.
Thierry Bolloré is a French businessman who was most
recently the chief executive officer of Renault until 11 October 2019. He was
announced as CEO of Jaguar Land Rover 28 July 2020 and will take office in
September.
According to the company's statement, Bolor will replace Ralph Speth. Speth has already been announced as the non-executive deputy chairman of JLR.
Natarajan Chandrasekhar, chairman of Tata Sons, Tata
Motors and Jaguar Land Rover PLC said of Bolor that he would bring a wealth of
experience to the company. Bollore was previously the Group CEO of Renault.
Chandrasekaran said, "I would like to thank Ralph for a decade of outstanding vision and leadership for Jaguar Land Rover and welcome him to his new non-executive position, in addition to his current role on the board of Tata Sons."
In the recent news of Jaguar Land Rover, the manufacturer
raised about $ 704.5 million from banks in China, JLR's first loan financing in
the country. The three-year revolving loan has been provided by Bank of China,
ICBC, China Construction Bank, Bank of Communications and Shanghai Pudong
Development Bank, according to Arthur Yu, vice president of JLR and chief
financial officer of China.
JLR said that its sales in China in the month of April were on par with the same period last year, in addition to the trend of increasing sales in May. The company imports cars and also has manufacturing partnerships with Cherry Automobile, based in Wuhu, in China's eastern city of Changshu.
