Jaguar Land Rover CEO David Smith steps down
Jaguar Land Rover, the British luxury-car maker owned by India’s Tata Motors, said that chief executive officer David Smith will leave the company after less than two years in the top job. Ravi Kant,
January 27, 2010 | comments ( 0 ) |
Jaguar Land Rover, the British luxury-car maker owned by India’s Tata Motors, said that chief executive officer David Smith will leave the company after less than two years in the top job. Ravi Kant, a Jaguar Land Rover director and vice chairman of Tata, will take on Smith’s duties while a search for a permanent successor is carried out.
Falling sales at the UK car maker pushed Tata Motors, India’s biggest truck manufacturer, to its first consolidated annual loss in at least seven years in the year ended March.
Jaguar Land Rover sales in Europe declined almost 22 per cent last year to 86,026 vehicles, according to the European Automobile Manufacturers’ Association. Sales of luxury vehicles are recovering more slowly from the global recession and haven’t benefited as much as small cars from government incentives.
Smith became CEO in June 2008 after Tata took over from Dearborn, Michigan-based Ford. He was chief financial officer at Jaguar before the Tata purchase
- Bluestone eyes expanding in India with offline stores
- Zomato buys Lucknow-based TechEagle Innovations
- Curefit may foray into online retailing of sportswear
- Virat Kohli's One8 expands brand portfolio
- Lighthouse invests INR 250 crores in footwear brand Aqualite
- PrettySecrets launches new store
- Infiniti Retail posts 1st net profit
- Future group to launch Brand Factory online in February 2019
- Over 50 Indian companies aims to expand operations to RAKEZ in UAE
- Xiaomi clocks about Rs 23k cr revenue within 4 years of operations