ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

AML Aston Martin Lagonda Global Holdings Plc

156.10
-0.90 (-0.57%)
Last Updated: 15:46:44
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aston Martin Lagonda Global Holdings Plc LSE:AML London Ordinary Share GB00BN7CG237 ORD GBP0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.90 -0.57% 156.10 155.70 156.10 159.60 154.10 158.50 238,476 15:46:44
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Motor Vehicles & Car Bodies 1.63B -228.1M -0.2769 -5.63 1.28B

Aston Martin Lagonda Global Hld PLC Appointment of New Chief Executive Officer (2010K)

04/05/2022 7:02am

UK Regulatory


Aston Martin Lagonda Glo... (LSE:AML)
Historical Stock Chart


From Apr 2022 to Apr 2024

Click Here for more Aston Martin Lagonda Glo... Charts.

TIDMAML

RNS Number : 2010K

Aston Martin Lagonda Global Hld PLC

04 May 2022

4 May 2022

Aston Martin Lagonda Global Holdings plc

Appointment of new Chief Executive Officer and Chief Technical Officer

Strengthening Leadership Team to Spearhead Electrified Future

The Board of Aston Martin Lagonda Global Holdings plc (the "Company") today announces that by mutual agreement Tobias Moers will stand down from his role as Chief Executive Officer. He will leave the Board of the Company with immediate effect and support the leadership team with a smooth transition until the end of July. The Board is grateful for all that Tobias has contributed during his time at Aston Martin, setting the Company in the right direction, building new foundations and improving its operations.

The Board announces the appointment of Amedeo Felisa as Chief Executive Officer. A former CEO of Ferrari, he is one of the most highly regarded leaders and engineering professionals in the high-performance luxury sports car sector. Currently a Non-Executive Director of the Company, Amedeo will be appointed an Executive Director with immediate effect.

Amedeo has spent his entire career in automotive and engineering with over 26 years in leadership roles at Ferrari, including eight as CEO, guiding the Italian-based luxury automotive OEM through its turnaround and growth phase as the engineering and product-development force behind every new model.

With Aston Martin set to enter a new phase of growth and development, Amedeo will focus on delivering the Company's continued strategic objectives, financial targets and roadmap towards electrification. To meet these goals, Amedeo is to implement and lead a new organisational structure with a focus on broadening the technical team through the promotion of internal talent together with added expertise of strategic external hires, identified and set to be announced in the coming weeks.

To further strengthen the leadership team, the Company has also appointed the highly experienced engineer Roberto Fedeli as its Chief Technical Officer. Roberto is another proven leader in the luxury high-performance sports cars sector. He is considered the creator of Ferrari LaFerrari, the Italian company's first hybrid supercar as well as some of its most iconic models during his 26-year tenure. Roberto will join Aston Martin with effect from 1 June 2022 to lead the Company's technical team and expand its reputation for cutting-edge engineering. He will be bringing his extensive knowledge, passion for innovation and his most recent experiences in the implementation of electrification technologies during his time at BMW.

To deliver the next-generation sports cars, and lead the way to electrification, these two appointments will significantly strengthen the senior leadership team which, combined with the new organisational structure, will drive further and faster innovation and instil greater cohesion and effectiveness across the Company.

Lawrence Stroll, Aston Martin Lagonda Executive Chairman, said :

"Firstly, I would like to extend my thanks and appreciation for all that Tobias has achieved. He joined Aston Martin at a critical time for the Company and brought significant discipline to its operations. The benefit of these actions is clear in the improved operating performance of the Company and in our great new product launches.

Now, there is a need for the business to enter a new phase of growth with a new leadership team and structure to ensure we deliver on our goals. Our new organisational framework will support the Company to its full potential, foster greater collaboration, a more cohesive way of working, both internally and externally, especially with our strategic partners, including Mercedes-Benz AG, and further accelerate technology transfer programmes with the Aston Martin Aramco Cognizant Formula One(TM) Team.

I am extremely pleased that Amedeo has agreed to take on the role of CEO. He has extensive knowledge of both Aston Martin's business and the wider automotive industry with an excellent track record and previous experience of leading a major ultra-luxury car manufacturer. His technical acumen and charisma will be inspirational for the entire Company.

With the appointment of Roberto, we add another world class name to our team. He will help us deliver our future strategy, with a particular focus on technology advancements, and our in-house engineering capabilities, as we move towards electrification. Roberto is a proven innovator and team builder. He conceived some of the world's most desirable performance sports cars. His extensive experience of this sector, coupled with his leadership style, will contribute significantly to shape our exciting future product portfolio and reinvigorate our technical team.

We believe these changes will bring significant long-term benefits to everyone involved with Aston Martin. We are poised to deliver good growth in 2022 and remain extremely confident in the medium and long-term prospects for the Company as we transform Aston Martin into the world's most desirable ultra-luxury British performance brand."

Amedeo Felisa, Aston Martin Lagonda Chief Executive Officer said:

"It is very exciting for me to take on this role at Aston Martin as we embark on the Company's next phase of growth. I have great confidence in Lawrence's vision, and I'm grateful for his, and the Board's, trust in my leadership. Over the past year, through my work as a Non-Executive Director and Chairman of the Product Strategy Committee, I have come to know Aston Martin and its senior leadership team very well. I know there is an impressive pool of talent inside the Company, as well as an extraordinary technological ecosystem in the UK, made up of innovators, universities, automotive and racing specialists, with whom we want to deepen our relationships.

We have a clear objective to continue the transformation of Aston Martin into an ultra-luxury, high-performance brand and become a leader in our sector. We have a highly experienced and talented team throughout the organisation that together will enable us to achieve our goals. We have a tremendous opportunity to shape and enhance the uniqueness of Aston Martin's future products, and to further grow our appeal with new customers by harnessing the introduction of new technologies, electrification, connectivity and innovative materials."

The Company has also today made an announcement regarding its first quarter results for the three months to 31 March 2022.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is being released on behalf of Aston Martin Lagonda Global Holdings plc by Rachael Hambrook, Interim Company Secretary.

Regulatory Disclosures

The Company confirms that, in respect of Listing Rule 9.6.13R(1), Mr Felisa currently serves as Chairman of Atop S.p.A. I n respect of Listing Rules 9.6.13R (2)-(6), there are no details to disclose.

Mr Felisa will step down as a member of the Audit and Risk Committee. He will also step down as chair of the Product Strategy Committee which committee will be discontinued as a Board Committee.

The Company will disclose details of exit arrangements for Tobias Moers on its website in due course, in accordance with its statutory obligations.

Remuneration Arrangements

Mr Felisa's service agreement, remuneration and benefits will be consistent with Aston Martin Lagonda's Remuneration Policy as approved by shareholders at the AGM in June 2019 and the proposed new Remuneration Policy to be considered by shareholders at the Company's AGM on 25 May 2022.

Enquiries

 
 Investors and Analysts 
 S herief Bakr        Director of Investor Relations     +44 (0)7789 177547 
                                                          sherief .bakr@astonmartin.com 
 Holly Grainger       Deputy Head, Investor Relations    +44 (0)7442 989551 
                                                          holly.grainger@astonmartin.com 
 Brandon Henderson    Senior Manager, Investor           +44 (0)7585 326704 
                       Relations                          brandon.henderson@astonmartin.com 
 Media 
 Kevin Watters        Director of Communications         +44 (0)7764 386683 
                                                          kevin.watters@astonmartin.com 
 Paul Garbett         Head of Corporate and Brand        +44 (0)7501 380799 
                       Communications                     paul.garbett@astonmartin.com 
 Grace Barnie         Corporate Communications           +44 (0)7880 903490 
                       Manager                            grace.barnie@astonmartin.com 
 Tulchan Communications 
 Harry Cameron and Simon Pilkington                      +44 (0)20 73534200 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

BOASSLEEDEESESI

(END) Dow Jones Newswires

May 04, 2022 02:02 ET (06:02 GMT)

1 Year Aston Martin Lagonda Glo... Chart

1 Year Aston Martin Lagonda Glo... Chart

1 Month Aston Martin Lagonda Glo... Chart

1 Month Aston Martin Lagonda Glo... Chart

Your Recent History

Delayed Upgrade Clock