Tata Motors skid after JLR CEO Thierry Bollore resigns

Tata Motors fell 2.62% to Rs 420.10 after Jaguar Land Rover (JLR) chief executive officer (CEO) Thierry Bollore resigned due to personal reasons after more than two years in the role.

Thierry Bollortendered his resignation as the CEO of Jaguar Land Rover Automotive Plc, UK ("JLR"), a wholly owned subsidiary of Tata Motors, due to personal reasons, with effect from 31 December 2022.

Consequent upon cessation of his aforesaid employment with JLR, Thierry Bollorhas resigned as non-executive non-independent director of Tata Motors with effect from 31 December 2022.

Taking over from today as Interim CEO will be Adrian Mardell. Adrian has been part of JLR for 32 years and a member of the executive board for three years.

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

On a consolidated basis, Tata Motors reported net loss of Rs 944.61 crore in Q2 September 2022 as against net loss of Rs 4,441.57 crore in Q2 September 2021. Net sales rose 30.5 % to Rs 78,846.92 crore in Q2 September 2022 over Q2 September 2021.

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