On August 4, India's Tata Motors Group announced the appointment of its Chief Financial Officer, PB Balaji, as the new Chief Executive Officer of its British subsidiary, Jaguar Land Rover. Balaji will succeed Adrian Mardell, who is set to retire, with his appointment taking effect in November. Mardell, who has dedicated 35 years to Jaguar Land Rover, will officially step down on December 31. During his three-year tenure, Mardell successfully turned the company around, eliminated net debt, and spearheaded a rejuvenation strategy for the brand.