Jaguar Land Rover (JLR) announced that Ken Gregor, chief financial officer (CFO), has decided to step down on 1 June 2019 after 22 years with the business.

He has been CFO since June 2008 when Tata Motors acquired JLR from Ford.

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Adrian Mardell, chief transformation officer (CTO), will replace Gregor as CFO.

Gregor will remain with the automaker until the end of August to support the handover of his responsibilities to Mardell.

Mardell has, most recently, headed the Project Charge transformation programme.

Before this, he held a variety of roles in JLR’s finance function and was deputy chief financial officer from 2008 to 2016.

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As well as becoming CFO, he will oversee JLR transformation for an interim period.

Jaguar Land Rover on Monday announced a pre-tax profit after three consecutive quarters of red ink.

The company reported GBP120m of pre-tax earnings for the quarter to 31 March, 2019.

This followed GBP149m in redundancy costs and a GBP3.6bn loss for the full fiscal year to 31 March, due partly to a large writedown from the third quarter.