Jaguar Land Rover CEO departs

JAGUAR Land Rover announced the shock departure of chief executive David Smith this week, thanking him for his service to the British marque “over many years” but providing no further details on the reasons behind the move.

Speculation is now mounting that the move was designed to clear the way for former Opel and BMW chief Carl-Peter Forster to step in.

In a brief statement, JLR said director Ravi Kant would assist with the handover of Mr Smith’s duties and assume day-to-day responsibilities of CEO – in conjunction with Jaguar chief Mike O’Driscoll and Land Rover boss Phil Popham – until “a permanent successor is announced”.

Meanwhile, JLR last week appointed David Betteley as its new global financial services director.

The current chairman of the Finance and Leasing Association in the UK, Mr Betteley joins the Tata Motors-owned British prestige vehicle manufacturer from Toyota, where he held the position of vice-president with responsibility for financial services in the UK, Europe and Africa.

Left: Carl-Peter Forster.

He was recruited by Toyota in 1998 to set up their financial operations in the UK, having previously been the managing director of Vauxhall Finance (GMAC) and working for global vehicle distributor International Motors in a range of capacities, including running the IM’s car distribution operations in Scandinavia.

In his new role at Jaguar Land Rover, Mr Betteley will direct the financial service activities for both brands worldwide. He reports to customer services director Mike Wright.

“Offering optimum financial services opportunities has never been more important, particularly in the premium vehicle segments, and I am looking forward to delivering new levels of excellence for Jaguar and Land Rover customers,” Mr Betteley said.

JLR is in partnership with a number of financial services providers worldwide, including Fiat Credit Agricole in Europe, Chase Manhattan in the US and Wesbank in South Africa. These arrangements replace the Ford Credit partnership that previously existed when Jaguar Land Rover was under Ford ownership.