Tata Group-owned Jaguar Land Rover's CEO Adrian Mardell to step down, successor to be announced soon
'Adrian Mardell has expressed his desire to retire from JLR after three years as CEO and 35 years with the company,' a spokesperson said in a statement. 'His successor will be announced in due course.'
The company, owned by India's Tata Motors Ltd., was among a number of carmakers to withhold profit guidance at the height of the US tariff uncertainty. JLR, which makes the Range Rover and Land Rover SUVs, does not have any US factories.
A video last year teasing Jaguar's revamp as an electric-only brand received intense criticism. Jaguar isn't making any cars until the new lineup is ready.
The CEO role has also recently changed hands at several other European carmakers, including Renault SA, Stellantis NV and Volvo Car AB.
Jaguar Land Rover joined a growing list of carmakers holding back from providing profit guidance, as US President Donald Trump's higher tariffs continue to wreak havoc on the industry.
The British maker of luxury sport utility vehicles 'continues to evaluate the impact of global challenges' and will provide an update at its investor day on June 16, it said in a statement accompanying its annual results. The company normally provides a profit outlook for its new financial year at this stage.
Like other automakers, JLR, owned by India's Tata Motors Ltd., is grappling with the financial impact of Trump's tariff chaos. Earlier Tuesday, Nissan Motor Co. also decided against giving a projection, following similar moves by European car companies such as Mercedes-Benz Group AG and Stellantis NV.
JLR, which does not have any US factories, had paused shipments to the country in April after Trump's first tariff announcements, before resuming exports this month.
Despite the UK striking a deal last week with the US to allow 100,000 British vehicles to be imported into the country at a 10% duty, that's still higher than the 2.5% rate that existed before Trump's initial announcements. JLR's Defender model is made in Slovakia and still subject to the higher 25% import duty.
JLR will look at ways to mitigate the impact of higher tariffs, Chief Executive Officer Adrian Mardell said on a call with reporters. Mardell declined to say whether price rises were among those measures. 'We'll wait and see, and reflect before we act,' he said. It remains unclear when the lower UK rate will come into effect, the CEO said.
Higher tariffs will have some implication on demand, though premium cars are expected to weather higher levies better, Tata Motors' Chief Financial Officer PB Balaji said on a call.
JLR, which accounts for around two-thirds of its Indian parent's sales, will look to other regions, including the UK and newer markets, to mitigate tariff impact. 'We are very clear we will do everything in our hands to drive growth,' Balaji said. JLR will need to keep a close eye on cash and costs, Balaji said.
While JLR declined to provide guidance for this financial year, Tata Motors reported profit that beat expectations last quarter. Net income fell 51% — slightly less than expected — to 84.7 billion rupees ($992 million) in the fiscal fourth quarter ended March 31. Revenue matched expectations at 1.2 trillion rupees. Tata Motors also announced a dividend of 6 rupees per share.
Profit was boosted by higher volumes at JLR, with the British unit posting a 32% increase in pretax profit to £875 million ($1.2 billion). Still, JLR's revenue decreased 2.5% to £7.7 billion. Tata's passenger vehicle segment revenue fell 13% and its commercial vehicles sales declined 0.5%.
JLR will also benefit from lower tariffs in India. In another landmark trade deal, the South Asian nation will lower duties on cars made in the UK, including hybrids and EVs, to as low as 10% from a prevailing tariff of up to 110% over a period of time.
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Hindustan Times
2 minutes ago
- Hindustan Times
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Despite the poor share performance, Bompard, who answers to shareholders including the billionaire Moulin family heirs and the descendants of late Brazilian businessman Abilio Diniz, is sticking around with the board intending to renew his mandate next year. Global Footprint Carrefour Chief Financial Officer Matthieu Malige said a strategic review still has plenty of scope and the company isn't ruling out selling its Polish business, which some analysts say is loss-making. 'There are many situations including the one in Poland that are being reviewed,' he said in an interview this week. The sale in Italy confirmed how little value was left in Carrefour's fifth biggest market, with the grocer paying the new owner, Italian food company NewPrinces SpA, €240 million ($277 million) to take it off its hands. Carrefour's expansion since the 1970s left it with a footprint in more than 40 countries, many of them underperforming. 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Time of India
3 minutes ago
- Time of India
Small cars and two-wheelers face demand pain: Sudip Bandyopadhyay
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Time of India
3 minutes ago
- Time of India
US-based Indian founder calls 80-hour workweek a ‘baseline,' says without 14+ hours a day, 'you won't make it'
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Drive With Boundaries A brief, silent clip showing two founders working side by side in a minimalist home office may not scream controversy — but in today's age of hustle culture discourse, it doesn't take much to stir a exactly what happened when San Francisco-based Indian entrepreneur Neha Suresh shared a fast-forwarded video on X (formerly Twitter) of herself and her co-founder Akash grinding away at their desks. Accompanying the video was a caption that quickly lit up social media timelines:'If you're not spending 14+ hours a day working on your dream you're ngmi. You can't build a world-changing product on 9–5 energy. 80-hour weeks aren't extreme. It's baseline.'It was part motivation, part manifesto. And for many online, it was a red hours, Neha's tweet had gathered hundreds of reactions. While some admired her dedication, others questioned the sustainability and implications of her words.'I love the passion and dedication you bring to your dreams, Neha,' wrote one commenter. 'But I'm not sure 14 hours a day is sustainable for everyone.''I burned out chasing 80-hour weeks,' said another. 'I actually build better products when I'm rested and thinking clearly.'Many critics pointed out that such messaging may unintentionally glorify overwork and perpetuate toxic workplace expectations — especially if taken beyond the founder level and applied to tweet is the latest ripple in a much broader global conversation — one that's been reignited time and again in recent months. Just last year, Infosys co-founder Narayana Murthy urged India's youth to work 70 hours a week to help the country catch up with global productivity . His statement, while intended as a wake-up call, sparked widespread backlash for allegedly overlooking the mental health toll and work-life imbalance it could British VC Harry Stebbings, known for his podcast 20VC, claimed earlier this year that 'seven days a week is the required velocity to win right now' — a comment that was both applauded for its realism and criticized for pushing an unhealthy Silicon Valley to Shanghai, the pressure to be always 'on' is often sold as a prerequisite to success — a narrative echoed in China's notorious '996' work culture (9 a.m. to 9 p.m., six days a week), which many blame for burnout , yet credit for explosive tech some argue that success requires relentless hours, others emphasize how those hours an episode of the podcast For a Change, neurologist Dr. Sid Warrier offered a more nuanced view. Drawing from his own experience, he explained: 'When I'm working in my own hospital, I can be there 24/7, but because it's my thing, my brain doesn't register it as work.' In contrast, an employee doing the same hours without personal investment might experience high stress and rapid burnout.'It's not really about work or not work. It's about stress and no stress,' he explained. Passion and purpose , according to Warrier, play a far bigger role in sustainability than sheer clocked-in where the conversation gets more complex. Founders like Neha may genuinely thrive on 80-hour weeks. But does promoting that rhythm as the only path to success put undue pressure on teams? Critics were quick to draw this line.'If this applies only to you founders, then it's okay. But don't generalize an 80-hour per week work culture,' a user responded on Neha's post. Another pointed out that overwork might not even lead to better output: 'Stopping 9-5 to start 24/7. But the vibe is really different, for sure.'Others made a case for smarter funding rather than longer hours. 'If a 10-person team is burning out to keep up with a 50-person VC-backed startup, the problem isn't effort — it's the cap table,' noted Sarah Wernér, co-founder of Husmus, in an interview with CNBC Make be clear, Neha's post wasn't without supporters. Some saw it as a wake-up call in an increasingly comfort-seeking culture. 'There's real truth in going all-in and putting in the hours to build something extraordinary,' wrote one Stebbings, while advocating hard work, drew a line at sacrificing mental health. 'I'm not saying miss dinner with friends or sit at your desk all day,' he told CNBC. He, too, spoke of balance — walking marathons with his ailing mother on Sundays, before returning to Suresh's now-viral post may not have intended to stir debate, but it's clear the world isn't done discussing hustle culture — especially at a time when mental health, fairness, and work-life integration are being redefined.
