Mardell, 64, took over as chief executive in November 2022 and led the company through a major transition, including its shift toward becoming an electric-first carmaker. Jaguar plans to launch as an all-electric luxury brand by 2026. Production of all existing Jaguar models ended in November 2024 as part of what the company described as a “sunset period” ahead of the relaunch, reports the Financial Times.
“Adrian Mardell has expressed his desire to retire from JLR after three years as CEO and 35 years with the company,” a spokesperson said. “His successor will be announced in due course.”
The news comes shortly after the company confirmed plans to eliminate 500 UK management roles. The layoffs followed a year in which Jaguar's global sales plummeted 45.8 percent to just 26,862 units, despite overall gains for the wider company.
Mardell’s tenure saw a financial recovery for Jaguar Land Rover. The company posted a pre-tax profit of £2.5 billion for the 2024–25 fiscal year, its best in a decade. Strong Defender sales—totaling 115,404 units—helped drive that performance. Revenues for the year held steady at £29 billion, although the final quarter saw a 1.7 percent decline.
“This strong and consistent performance, the commitment of our people, partners and clients and the appeal of our luxury brands will support our response to current global economic challenges,” Mardell said in May.
Before taking the top job, Mardell served as Chief Financial Officer beginning in 2019. He replaced former CEO Thierry Bolloré, who resigned during a period of pandemic-related supply chain problems.
Jaguar’s redesign under Mardell included removing the long-standing "growler" badge and launching a sleek promotional campaign that featured diverse models but no vehicles. The campaign and new “Type 00” electric concept received mixed feedback, with some longtime customers calling it a "woke rebrand" and expressing concern that the company was abandoning its identity.
