Jaguar Land Rover chief steps aside after a decade at the wheel as car maker begins another £1.1bn round of cost cuts
Jaguar Land Rover has kicked off another £1.1billion round of cost cutting as the car maker revealed its boss will stand down after almost a decade in the role.
Chief executive Ralf Speth will step back in September.
His departure comes after the UK car industry suffered its worst year for a decade, with production slumping to its lowest level since 2010 last year.
JLR chief exec Ralf Speth will step back in September. His departure comes after the UK car industry suffered its worst year for a decade
British factories made 1.3m cars during 2019, data from the Society of Motor Manufacturers and Traders (SMMT) showed.
This was down more than 14 per cent on 2018 and was the third consecutive year of decline.
The car industry has been pummelled by a slump in demand for diesel cars, a shift towards greener models, and uncertainty over Brexit.
Jaguar Land Rover, Britain’s biggest car maker, produced 14.3 per cent fewer cars, building 385,197 vehicles at its plants in Castle Bromwich, Halewood and Solihull.
Speth, 64, will stay on as non-executive vice chairman and will remain on the board of parent company Tata Sons.
He said: ‘I feel very honoured to have worked with so many dedicated and creative people.’