Exhibition of Aston Martin DB11 through the Turin Motor Present 2018.
Stefano Guidi | LightRocket | Getty Photographs
LONDON — Adrian Hallmark, the skilled autos chief of Bentley, has been appointed as new chief govt officer of fellow British luxurious automaker Aston Martin.
The 61-year-old will begin in his new position no later than Oct. 1, the corporate introduced Friday. Outgoing chief Amedeo Felisa will stay in his submit till that point.
“He brings greater than 25 years of extremely profitable senior automotive expertise from the US, Europe, and Asia with corporations corresponding to Bentley, Porsche and Volkswagen,” Aston Martin Lagonda stated in a press release.
Hallmark additionally spent seven years in senior roles at Jaguar Land Rover. Bentley has considerably elevated income and income underneath his tenure, although it confronted sector headwinds in 2023, together with shifting gross sales patterns in China.
Aston Martin Govt Chairman Lawrence Stroll stated Hallmark would deliver “unrivalled expertise in each the ultra-luxury and British manufacturing sectors to progress our technique and proceed latest momentum.”
It marks yet one more management change for Aston Martin, which has suffered heavy losses in recent times that narrowed in its 2023 outcomes. Felisa took his place on the helm in Could 2022, after his predecessor Tobias Moers lasted lower than two years within the prime job.
Aston Martin Lagonda shares have been up 1.8% at 9:15 a.m. in London.
Regardless of a rebound in 2023, the corporate’s share value has fallen sharply since going public in 2018, because it has grappled with provide chain disruption, elevated prices and a big debt pile.
Hallmark will face an extended to-do listing, together with launching Aston Martin’s first hybrid supercar Valhalla, coping with manufacturing issues with the brand new DB12 mannequin and managing the electrical car transition witch which many automakers are struggling.
Aston Martin Lagonda share value.
