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Former Renault CEO Thierry Bolloré will take the helm of Jaguar Land Rover on September 10, after having been at the head of the Renault group.
The challenge looks set to be great for the new managing director Thierry Bolloré, 57, who will be entrusted with the destiny of the British group at a time when the pandemic has put the automotive sector to the test.
The former boss of Renault until his dismissal last October did not wait long to find a comfortable seat.
He only spent a few months at the head of the Renault group.
Indeed, in November 2019, he was fired by the French group, in a context of tensions with the chairman of Renault Jean-Dominique Senart.
An electric atmosphere reigned in the company.
It was an opportunity for him to turn the page on the Ghosn era and set himself new objectives.
Thierry Bolloré has also spent 30 years working for major groups, including the French automotive supplier Faurecia and the Michelin Group.
The latter replaces Ralf Speth, who was at the head of the company for 10 years, but who retains his position as Vice President at JLR.
“It is a privilege to lead this fantastic company in what is still one of the most challenging times of our generation,” he said in a statement.
A major challenge
Jaguar Land Rover has faced difficulties in recent years, particularly in adapting to the change in mobility and the collapse of diesel, which still equips a large proportion of the group’s vehicles.
As a result of the fall in sales, its cash flow has been shrinking at a rapid rate. The group even had to turn to Chinese banks to obtain the £560 million loan that the UK government could not provide.
While it is in the midst of renewing its product ranges, even before being caught up by the pandemic, JLR had recently announced the loss of 1,100 temporary jobs in the UK and a pre-tax loss of £500 million between January and March.
The group wants to turn the corner and cut costs, with the aim of saving £5 billion by March 2021, a billion more than expected so far.
In addition, it has taken a decision to reduce its investment to £2.5 billion for the 2020-2021 financial year, compared with £3.3 billion for 2019-2020.
Thierry Bolloré’s mission will therefore be to give back to the largest British car manufacturer its profits after the Covid-19 pandemic.
But not only that… He will also have to lead the transformation of the range towards cleaner cars without losing his petrol.
Natarajan Chandrasekaran, president of Tata Motors, the parent company of the British top-of-the-range car manufacturer, said he was delighted to welcome “an established and experienced manager who has demonstrated his ability to manage complex transformations“.
Featured Photo : Portrait of Thierry Bolloré © Cyril de Plater[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Former Renault CEO Thierry Bolloré will take the helm of Jaguar Land Rover on September 10, after having been at the head of the Renault group.
The challenge looks set to be great for the new managing director Thierry Bolloré, 57, who will be entrusted with the destiny of the British group at a time when the pandemic has put the automotive sector to the test.
The former boss of Renault until his dismissal last October did not wait long to find a comfortable seat.
He only spent a few months at the head of the Renault group.
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Former Renault CEO Thierry Bolloré will take the helm of Jaguar Land Rover on September 10, after having been at the head of the Renault group.
The challenge looks set to be great for the new managing director Thierry Bolloré, 57, who will be entrusted with the destiny of the British group at a time when the pandemic has put the automotive sector to the test.
The former boss of Renault until his dismissal last October did not wait long to find a comfortable seat.
He only spent a few months at the head of the Renault group.
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