Adrian Mardell, chief executive officer of Jaguar Land Rover (JLR), will step down after more than 30 years with the company, a spokesperson said on Thursday. His successor will be named in due course.
Mardell, who joined the British luxury carmaker in 1990, had indicated a desire to retire after three years in the top role. He became CEO in November 2022 after previously serving as chief financial officer from June 2019.
During his tenure, Mardell led a major transformation of the Jaguar brand and steered JLR through a period of strong financial performance. The company, a wholly owned subsidiary of India’s Tata Motors (TAMO.NS), reported its highest profit in a decade under his leadership, eliminated £5 billion ($6.6 billion) in debt, and achieved its strongest operational results to date.
In April, JLR temporarily halted exports of British-made vehicles to the United States after former U.S. President Donald Trump imposed a 25% tariff on imported cars. Exports resumed in May. The U.S. remains a crucial market for JLR, accounting for nearly 25% of its global sales, particularly for high-margin models like the Range Rover and Defender.
The company does not manufacture vehicles in the U.S. Range Rovers are produced in the UK, now subject to a 10% tariff, while Defenders are assembled in Slovakia, facing a 15% duty.