Jaguar Land Rover Appoints New CEO, Effective in November
According to foreign media reports, on August 4, Tata Motors of India announced that Jaguar Land Rover has appointed PB Balaji as Chief Executive Officer to succeed the soon-to-retire Adrian Mardell. The appointment will take effect in November this year.
Image source: LinkedIn
PB Balaji has served as the Chief Financial Officer of Tata Motors since 2017. Tata Motors is the Indian parent company of Jaguar Land Rover, which is also regarded as the main profit source for Tata Motors.
PB Balaji has been appointed as the CEO of Jaguar Land Rover, which will strengthen Tata Motors' control over Jaguar Land Rover. It is noteworthy that Jaguar Land Rover accounts for about two-thirds of Tata Motors' total revenue.
On July 31st, Jaguar Land Rover confirmed that its global CEO, Adrian Mardell, will officially retire on December 31st, ending his career at Jaguar Land Rover. It is reported that Adrian Mardell has been with the company for 35 years and has served as CEO for three years.
Under the leadership of Adrian Mardell, Jaguar Land Rover achieved a record full-year performance despite a challenging external environment and successfully realized the strategic goal of zero net corporate debt. Jaguar Land Rover previously announced that in fiscal year 2025 (April 1, 2024, to March 31, 2025), its pre-tax profit is expected to increase by 15% year-on-year to £2.5 billion, marking the highest level in 10 years; the EBITDA margin will reach 8.5%, also the highest in a decade. During Adrian Mardell’s tenure, Jaguar Land Rover has also advanced a strategy to offer a pure electric version for all models by 2030.
In addition, in August last year, it was reported that Tata Motors had become the first Indian automaker to rank among the world’s top ten automotive companies by market capitalization, reaching a market value of $51 billion and becoming India’s most valuable car company. According to reports at the time, Tata Motors held a dominant position in India’s electric vehicle market, with a market share of over 60%. In the 2023 fiscal year alone, the company sold 64,217 electric vehicles, representing a 66% increase compared to the previous fiscal year.
It is reported that Tata Motors plans to launch 10 new electric vehicle models by fiscal year 2026 to further strengthen its market share in the electric vehicle sector. In addition, Tata Motors is collaborating with Jaguar Land Rover to develop the high-end pure electric Avinya model and leveraging the EMA shared platform to accelerate its entry into the premium electric vehicle market in India.
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