Since October 31, the Russian legal entity of the Jaguar Land Rover automobile company, Jaguar Land Rover LLC, became the property of the top management company. This is demonstrated by the data from the Unified State Register of Legal Entities. The unprofitable Vskd Motors LLC received 100% of the company.

British Jaguar Land Rover divested from Russian companies with the help of top managers
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The shares of Vskd Motors were distributed proportionally between the company’s top managers: Vyacheslav Kuzyakov, Ekaterina Shatalova, Dmitry Ovcharov and Sergei Skorobagatko. Until October 31, 2024, the dealership was owned by the British structures of Jaguar Land Rover.

According to Interfax, all four worked in Jaguar Land Rover’s Russian business: CEO Vyacheslav Kuzyakov, business development director Dmitry Ovcharov, after-sales service department director Sergei Skorobogatko and financial and administrative director Ekaterina Shatalova.

The consortium stopped supplying its cars to Russia in 2022. Jaguar Land Rover LLC’s revenue in 2023 fell by 79% to 1.5 billion rubles, the net loss reached 562.3 million rubles.

Why top managers needed an unprofitable Russian legal entity is unknown. In addition to Jaguar Land Rover LLC and its debts, the management company also received some trademarks of the British manufacturer, for example Range Rover and Land Rover, the protection of which was extended in Russia.

Author:

Ekaterina Strukova

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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