PL Stock Update - TATA MOTORS

PL Stock Update – TATA MOTORS – *Himanshu Singh – Research Analyst, Prabhudas Lilladher Pvt Ltd*

TATA MOTORS [TTMT IN | BUY | TP Rs. 675]

JLR Leadership announcements

Jaguar Land Rover today made leadership announcements were it has officially confirmed Adrian Mardell as the Chief Executive Officer, following his previous role as Interim Chief Executive Officer since 16 November 2022. Adrian Mardell has been an integral part of the JLR Board of Directors for three years, serving as the Chief Financial Officer.

Additionally, JLR announced the appointment of Richard Molyneux as the new Chief Financial Officer. Richard Molyneux previously held the position of Interim Chief Financial Officer since 12 December 2022, and prior to that, he served as the Finance Director, Operations at JLR for six years.

PL VIEW

We believe that these leadership announcements are positive for JLR, as they reflect the company's commitment to its Reimagine strategy, which aims to enter an electric future and transform into a digitally savvy modern luxury business.

Adrian Mardell and Richard Molyneux have played key roles in implementing the Refocus transformation programme (cost control program), which delivered GBP1.1bn of savings in FY23, and GBP1.5bn in FY22.