The Jaguar Land Rover Story Since Acquisition in 2008
In June 2008, Ford Motor Company sold Jaguar Land Rover (JLR) to Tata Motors with a two year transitional service agreement (TSA) to separate the JLRb business from Ford. If the TSA wasn’t a big enough challenge to manage, in September 2008, the world fell into the worst recession in 80 years with JLR sales falling 35% within a month and remaining at that level for the next 12 months. From day to day cash management and survival through 2009, a business turnaround began in 2010, which is still generating quarter over quarter growth to this day. This product led business turnaround has fuelled a business transformation project and ambitious growth plans both in the UK and across the globe. This presentation tells the story of how the JLR Finance Organisation was critical to the survival of the business in 2009, and has since embarked on a journey of transformation to meet the needs of a successful, ambitious, growing and globalising business.
Ming Lee is Range Rover Finance Controller at Jaguar Land Rover (JLR) responsible for financial oversight and business development of the Range Rover and Range Rover Sport products. In 2008, he was Ford Motor Company’s Head of Internal Audit for Jaguar, Land Rover, Volvo and Aston Martin. When Ford decided to sell JLR to Tata Motors he was asked to lead a project to separate the Ford and JLR businesses, including creating new legal entities, establishing new corporate finance and shared service teams, cloning Ford IT systems and migrating JLR Business data. After successfully completing the separation he kicked off JLR’s Finance Transformation programme with a focus on end to end process efficacy, harmonious IT systems and a high performing team providing reliable and timely management information to a successful and growing business. Ming is a Chartered Accountant, Certified Internal Auditor and experienced finance leader having undertaken12 roles in a 21 year career with Arthur Andersen, Ford Motor Company and JLR.