Ralf Speth, CEO of Jaguar Land Rover, sits in a classic Jaguar E-Type modified with an electric engine in London, Britain, on Sept. 7, 2017. (Toby Melville/Reuters)
The boss of Jaguar Land Rover (JLR) will step down from his role at the end of his contract term in September as Britains biggest carmaker shows signs of improvement after a torrid 2019 of job cuts, deep losses, and falling sales.
Ralf Speth has led the company since 2010 during which it has pursued a major global expansion with new factories in China, Brazil, and Slovakia putting it on course to make 1 million cars per year.
But sales ended last year at just over 550,000 vehicles as the firm was slower than some rivals in electrifying its line-up whilst large drops in diesel demand and a slump in China, the worlds biggest autos market, hit its performance.
JLR posted a 6 percent decline in 2019 sales but it has bounced back in China in recent months and overall company sales rose by 1.3 percent in December.