Car Dealer reported last week that Mardell was retiring after an eventful three years in the job with the search already underway to find his replacement.
Just days on, that hunt has now been concluded with Balaji moving over from his position as group chief financial officer of JLR’s Indian owner, Tata Motors.
The 54-year-old is already on the JLR board and bosses say his appointment is the result of a search which has lasted ‘a few months’, despite the news of Mardell’s departure only becoming public last week.
He will officially assume control in November and bosses say the appointment will ‘continue to accelerate’ JLR’s controversial Reimagine strategy.
Natarajan Chandrasekaran, chairman of both JLR and Tata Motors, said: ‘I would like to thank Adrian for the stellar turnaround of JLR and for delivering record results.
‘I am delighted to appoint Balaji as the incoming CEO of the company. The search for a suitable candidate to lead JLR has been undertaken by the board for the past few months and after careful consideration it was decided to appoint Balaji.
‘He has been associated with the company for the past many years and is familiar with the company, its strategy and has been working with the JLR leadership team.
‘This move will ensure that we continue to accelerate our journey to Reimagine JLR.’
Balaji added: ‘It is my privilege to lead this incredible company. Over the past eight years I have grown to know and love this company and its redoubtable global brands.
‘I look forward to working with the team to take it to even greater heights. I thank Adrian for his immense contributions and wish him well for his next innings.’
Commenting publicly on his retirement for the first time, Mardell said it had been a ‘great privilege’ to lead JLR, having enjoyed a 35 career at the firm overall.
He was also quick to wish his successor luck as JLR continues its overhaul.
He said: ‘These three years have been a great privilege. Together with the incredible JLR workforce, we have cemented JLR’s position in the automotive industry during a time of incredible change.
‘I would like to thank everyone in JLR and the extended Tata Group, and wish Balaji every success in his new role’
