Chief Executive of Tata-owned Jaguar Land Rover resigns

The chief executive of Jaguar Land Rover, David Smith has resigned from his designation leading to a lot of speculation in the market. There are lot of apprehensions as to why David Smith left the post. Analysts speculated that Smith' s departure was likely to be connected to possible disagreements over strategy with the firm's new owners.

Jaguar Land Rover, the Indian-owned British luxury has been trying to reduce the wages by 20 per cent and also reduce pension provisions of new employees as part of a strategic review.

However the spokesman said that the departure has no connection to the disagreement between management and unions over pay and conditions. He also said that the company is disappointed that the discussion between the management and the unions has been ended without any agreement.

Jaguar Land Rover from US carmaker Ford was purchased by Tata Motors for 1.4 billion pounds ($2.3 billion) in 2008.

Last year Jaguar Land Rover saw decrease in sales by 26 percent across the firm's two brands.