It looks as if Ford is finally putting a fork in the sale of Jaguar and Land Rover to Tata Motors... it's done. According to a statement from Ford, which can be read after the break, the sale of the two British automakers has been officially finalized as of today. Ford also wishes the best for its recently departed companies and their employees. Awww, isn't that sweet? We're glad we can all still be friends.
At Jaguar Land Rover, things seem to be business as usual. The company has announced that its new proud papa, Tata Motors, has named former CFO David Smith the new CEO for Jaguar and Land Rover. You may recall the untimely death of Geoff Polites, the company's previous CEO. Today's announcement of Smith's new appointment comes right on schedule based on past information provided by the company. Smith has already been the acting CEO since Polites' death late last April.
Still mourning the untimely passing of CEO Geoff Polites, Jaguar and Land Rover have been managed in the interim by chief financial officer David Smith. But as the British automakers transition ownership from Ford to Indian automaker Tata, the twin companies are preparing to name a new chief executive.
Since initially announcing the deal, Tata has reiterated that it wanted to retain as much of the current management as possible. However, many of the jobs that were once managed by Ford and its Premier Auto Group, under which Jaguar and Land Rover fell, will need to be filled. As a result, the automakers are reportedly recruiting externally for several senior positions. Whether Tata ultimately decides to promote from within or hire a new chief executive from outside the company remains to be seen, but an announcement is expected as early as June 2.
