JLR CEO: Chip shortage victim

Thierry Bollore's two-year stint as CEO of Jaguar Land Rover was memorable for failing to generate a single profitable quarter during a period when rival luxury automakers were posting record margins.

The Financial Times in the United Kingdom reported it was Bollore's inability to mitigate the industry's microchip shortage that prompted JLR owner Tata Motors to push for his resignation. Tata said he will step down effective Dec. 31 for "personal reasons."

In what will presumably be his last public appearance with JLR, Bollore spoke passionately on this month's quarterly results call about the chip crisis.

"We should not forget that the supply of chips is really a crisis in our sector," he said, adding that it would take "years" before the situation returned to normal.

As a smaller player in the industry, JLR found it harder to get much-needed deals with chip makers amid the supply squeeze. In September, one supplier severed its agreement with the company, hitting production for the month until it was persuaded back on board.

Adrian Mardell, JLR's CFO and now its interim CEO, vented his frustration at the company's inability to get hold of the precious semiconductors.

"It's hard work for us, we were behind the clock," he said. "It's a bit like turning up at buffet two weeks late — some of the stuff left is not what you want."