Thierry Bollore Is New Chief Executive Of Jaguar Land Rover

(RTTNews) - Jaguar Land Rover has named Thierry Bollore as its new chief executive officer, succeeding Ralf Speth.

The executive change comes as Britain's biggest carmaker strives to return to profitability after being hit by the coronavirus pandemic. Jaguar Land Rover is owned by India's Tata Motors.

Bollore will take over as the CEO of Jaguar Land Rover on September 10, 2020. Speth will take up the previously announced position of non-executive vice chairman of Jaguar Land Rover.

Bollore, an auto industry veteran, most recently served as CEO of French carmaker Groupe Renault and previously in senior positions at global automotive supplier Faurecia.

Bollore was named CEO of Renault in January 2019 after the arrest of Carlos Ghosn, but was ousted in October as the French carmaker looked to make a fresh start.

Bollore's appointment at Jaguar Land Rover comes as the automaker struggles with weak sales due to the coronavirus pandemic and the slow adoption of electric vehicle technology.

In early July, Jaguar Land Rover said that its June retail sales were 35,334 vehicles, down 24.9 percent year-on-year. The company noted that its retail sales for the three-month period to June 30, 2020 were also significantly impacted by the COVID-19 pandemic.

Jaguar Land Rover implemented job cuts in 2019 to reflect weaker market conditions primarily relating to falling diesel sales. The company reported loss before tax of 422 million pounds for fiscal 2019-20.