JLR appoints Adrian Mardell as CEO for three-year term; Richard Molyneux named CFO

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Tata Motors on July 20 stated that its unit Jaguar Land Rover (JLR) has appointed interim boss Adrian Mardell as chief executive officer for a three-year term.

The carmaker also made acting Chief Financial Officer Richard Molyneux's role permanent.

Mardell, a JLR veteran, was appointed to the interim role in November when Thierry Bollore resigned due to personal reasons.

Molyneux was appointed Acting Chief Financial Officer, on 12 December 2022, following six years as Finance Director, Operations, JLR, Tata Motors added.

Earlier today, Tata Group had also announced plans to build an electric vehicle (EV) battery plant in Britain to supply its Jaguar Land Rover factories.

The gigafactory - Tata's first outside of India - will include an investment of 4 billion pounds ($5.2 billion), the company said.

Investors also cheered for the company's aggressive investment plans, lifting the shares of Tata Motors to the day's high of Rs 625.30 on July 19. At 12.55 am, shares of Tata Motors were trading 1.64 percent higher at Rs 622.15 on the National Stock Exchange.

In April this year, Mardell had told reporters at a media event that the Tata Group is clear the new Gigafactory is going to be in Europe. Spain was believed to be the other site under consideration at the time.