Ralf Speth, CEO of Jaguar Land Rover, Stepping Down
Despite recent financial struggles, Speth led a product-focused tenure that put Jaguar Land Rover on solid footing for the future.
Like most automotive companies in 2020, Jaguar Land Rover (JLR) faces strong headwinds. Falling demand for sedans and the switch to electric powertrains are just two issues impacting the industry. Fortunately, CEO Ralf Speth prepared for these challenges as best he could. As a result, the company enters the new decade with compelling products and a bright future.
JLR will have to largely carry on without Speth however, as the CEO recently decided not to renew his contract. Speth’s tenure neatly coincided with the 2010s, as he came on board shortly after parent company Tata Sons purchased JLR from Ford in 2010. Speth will not completely sever ties with the company. He plans to become a non-executive vice chairman and continue his role as a Tata Sons board member. But his departure this September effectively ends his career at JLR.
A Product-Based Tenure
Any automaker focused on future prosperity has to look to its products if it wants to succeed. Speth certainly made the right calls when it came to Jaguar. The brand released its first-ever crossover under his watch, the F-Pace. The F-Pace arrived at a fortuitous time for Jaguar, as gas prices tumbled and customers sought utility vehicles instead of sedans. As one of the brand’s most important vehicles ever, it needed to retain the essence of what makes a vehicle a Jaguar. And on that metric, it succeeded. With a proper identity and substantial performance chops, it is now Jaguar’s best selling model. To further round out Jaguar’s utility lineup, the brand also introduced the E-Pace, which ended up earning the same type of critical praise as its larger sibling.
An Electrified Future
Despite the importance of utility vehicles like the E-Pace and F-Pace, the most important decision of Speth’s tenure may be related to electrification. Under his watch, Jaguar released the I-Pace, the company’s first fully electric vehicle. The I-Pace is a completely new design on an all-new platform. It also boasts a total range of 240 miles. And with a starting price of $69,850, it is competitively priced with other electric vehicles from Tesla and Audi. Jaguar’s nascent electric program is an incredibly important achievement that places the brand on far better footing than rivals, who have famously struggled to launch their own fully-electric products.
Maintaining Jaguar Tradition
Aside from developing future-oriented products, Speth also devoted resources to vehicles very much in line with tradition. The company committed to the compact luxury segment with the XE and released a fierce coupe in the form of the F-Type. Similarly, the XJ hasn’t been forgotten and is slated to return as an electrified vehicle. The XJ’s future is perhaps the best indicator of Speth’s decision-making capabilities. It will represent a perfect blend of the past and present. And its platform will be used in other JLR vehicles too. It’s a sign that the company can be fiscally disciplined without cutting product or compromising future development projects.
Ultimately, Speth shaped JLR into a truly 21st century luxury marque. The company has its fair share of challenges ahead of it. Brexit could significantly eat into the company’s profitability. And a downturn in China could hurt sales and make things harder for JLR down the road. But Speth prepared the company as best as he could with the resources available to him. His successor will have big shoes to fill.
Photos: Jaguar