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| Date | 22 Mar 2024 |
| Time | 08:28:05 |
| Category | Board changes |
| ID | 9546H |
22 March 2024
Aston Martin Lagonda Global Holdings plc
("Aston Martin", the "Company" or the "Group")
Appointment of New Chief Executive Officer
· Adrian Hallmark, experienced ultra-luxury automotive leader, appointed new Chief Executive Officer
· Former Chairman and Chief Executive Officer of Bentley Motors to succeed Amedeo Felisa, who will stand down as Chief Executive Officer of Aston Martin
· Hallmark to commence position no later than 1st October 2024
The Board of Aston Martin today announces the appointment of ultra-luxury automotive leader Adrian Hallmark, who will join Aston Martin as an Executive Director of the Company and its Chief Executive Officer no later than 1 October 2024.
Hallmark, aged 61, will join Aston Martin from his recent position as Chairman and Chief Executive Officer of Bentley Motors, a role he has fulfilled since 2018. He brings more than 25 years of highly successful senior automotive experience from the US, Europe, and Asia with companies such as Bentley, Porsche and Volkswagen.
Ensuring a smooth transition in leadership, Amedeo Felisa will remain as Chief Executive Officer until Hallmark takes up post. Felisa will continue to oversee the introduction of Aston Martin's exciting new products, including the launch of its third next generation sports car later this year, completing its class-leading, new front-engine portfolio following the successful launches of DB12 and Vantage.
Commenting on the new appointment, Lawrence Stroll, Executive Chairman of Aston Martin, said:
"When Amedeo was appointed CEO, I spoke of him leading a new phase of growth and development. Two years on, we have delivered on that promise, as we near completion of our thrilling new product portfolio and move closer to our vision of becoming the world's most desirable, ultra-luxury British performance brand.
"I'd like to personally pay tribute to Amedeo, recognising not just what he has achieved at Aston Martin but throughout his long and distinguished career at the very top of the ultra-luxury automotive industry. I am pleased that Amedeo will remain in post until Adrian joins and will continue to oversee the launch of our upcoming products, with our breathtaking line-up of new front engine sports cars a fitting legacy to his time leading the Company and its product strategy. We look forward to celebrating Amedeo's contribution to Aston Martin's recent success before wishing him the very best.
"In Adrian Hallmark, we are attracting one of the highest calibre leaders not just in our segment, but in the entire global automotive industry. Complementing our world-class leadership, Adrian will bring to Aston Martin unrivalled experience in both the ultra-luxury and British manufacturing sectors to progress our strategy and continue recent momentum."
Amedeo Felisa, Chief Executive Officer of Aston Martin, said:
"It has been a great privilege to serve as Aston Martin's Chief Executive Officer, leading our iconic brand through this exciting era. I am incredibly proud of the progress made over the last two years, which has aligned Aston Martin for a positive future direction. I believe now is the right time to allow the Company to transition to new leadership.
"I'd like to thank Lawrence and the Board for their strong support throughout my time as CEO, and colleagues who've worked incredibly hard in recent years to deliver on our vision for Aston Martin and execute on our award-winning new product strategy. I am looking forward to delivering our upcoming new products before handing over to Adrian, who is a fantastic appointment for Aston Martin with a wealth of first-class experience."
Adrian Hallmark added:
"Like many working within the ultra-luxury segment, I have admired the continued transformation of Aston Martin's brand and products from afar and feel honoured to have the opportunity to work with Lawrence, the Board and the Company's employees to lead its next chapter.
"The transformation of Aston Martin is one of the most exciting projects within the ultra-luxury automotive industry. I am looking forward to continuing the Company's great momentum and utilising my experience and passion to further unleash this iconic brand's potential and take it to even greater success."
Regulatory Disclosures
A separate announcement containing the required regulatory information in accordance with paragraph 9.6.13R of the Listing Rules of the Financial Conduct Authority will be released within 5 business days.
Remuneration Arrangements
Adrian Hallmark's service agreement, remuneration and benefits will be consistent with Aston Martin's Remuneration Policy as approved by shareholders at the AGM in May 2022.
The Company will disclose details of exit arrangements for Amedeo Felisa on its website in due course, in accordance with its statutory obligations.
Inside Information
This announcement contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation No. 596/2016 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for releasing this announcement on behalf of the Company is Liz Miles, Company Secretary.
ENDS
Enquiries
Investors and Analysts
James Arnold Head of Investor Relations +44 (0) 7385 222347
Ella South Investor Relations Analyst +44 (0) 7776 545420
Media
Kevin Watters Director of Communications +44 (0) 7764 386683
Paul Garbett Head of Corporate & Brand Communications +44 (0) 7501 380799
About Aston Martin Lagonda
Aston Martin's vision is to be the world's most desirable, ultra-luxury British brand, creating the most exquisitely addictive performance cars.
Founded in 1913 by Lionel Martin and Robert Bamford, Aston Martin is acknowledged as an iconic global brand synonymous with style, luxury, performance, and exclusivity. Aston Martin fuses the latest technology, time honoured craftsmanship and beautiful styling to produce a range of critically acclaimed luxury models including the Vantage, DB12, DBS, DBX and its first hypercar, the Aston Martin Valkyrie. Aligned with its Racing. Green. sustainability strategy, Aston Martin is developing alternatives to the Internal Combustion Engine with a blended drivetrain approach between 2025 and 2030, including PHEV and BEV, with a clear plan to have a line-up of electric sports cars and SUVs.
Based in Gaydon, England, Aston Martin Lagonda designs, creates, and exports cars which are sold in more than 50 countries around the world. Its sports cars are manufactured in Gaydon with its luxury DBX SUV range proudly manufactured in St Athan, Wales. The company is on track to deliver net-zero manufacturing facilities by 2030.
Lagonda was founded in 1899 and came together with Aston Martin in 1947 when both were purchased by the late Sir David Brown, and the company is now listed on the London Stock Exchange as Aston Martin Lagonda Global Holdings plc.
2020 saw Lawrence Stroll become the company's Executive Chairman, alongside significant new investment. This coincided with Aston Martin's return to the pinnacle of motorsport with the Aston Martin Aramco Formula One® Team and commenced a new era for the iconic British marque.