After 35 years at JLR, Adrian Mardell exits; PB Balaji named new CEO

Adrian Mardell, chief executive officer of Jaguar Land Rover (JLR), is set to step down as he approaches the end of his 35-year career with the automaker. Tata Motors Group CFO PB Balaji will take over as the next CEO.

During the second-quarter earnings announcement of Tata Motors Passenger Vehicles Limited and JLR, Mardell said, “As I approach the end of my 35-year career at JLR, I am immensely proud of what we have achieved together. Leading JLR as CEO over the past three years has been the greatest honour of my career.”

He added that he is confident the company will continue to thrive under Balaji’s leadership. "I am confident that the next chapter will bring continued success for this great business under the leadership of PB Balaji," said Mardell.

Mardell, who joined JLR in 1990, served in several senior roles, including chief financial officer from June 2019, before becoming CEO in November 2022. He has been instrumental in Jaguar’s brand transformation and the ongoing transition to a new product lineup.

The announcement came as the British luxury carmaker reported a 4.3% year-on-year decline in revenue to £4.9 billion in Q2 FY26, with EBITDA at –1.6%. Performance was hit by a cyber incident and the planned phase-out of older Jaguar models ahead of a major relaunch. For H1 FY26, revenue fell 16.3% to £11.5 billion.

JLR also faced external pressures earlier this year, pausing exports of UK-made vehicles to the US for a month after a 25% tariff imposed by the Trump administration. Exports resumed in May.

About PB Balaji

Balaji is a global finance leader with nearly three decades of experience across FMCG and automotive sectors. A former Unilever executive, he joined Tata Motors after serving as CFO of Hindustan Unilever. He has been a non-executive director on the JLR board since 2017 and also sits on the boards of Tata Consumer, Air India and Titan. An alumnus of IIT Madras, he holds an MBA from IIM Calcutta.