Exhibition of Aston Martin DB11 in the course of the Turin Motor Present 2018.
Stefano Guidi | LightRocket | Getty Pictures
LONDON — Adrian Hallmark, the skilled autos chief of Bentley, has been appointed as new chief government officer of fellow British luxurious automaker Aston Martin.
The 61-year-old will begin in his new function no later than Oct. 1, the corporate introduced Friday. Outgoing chief Amedeo Felisa will stay in his put up till that point.
“He brings greater than 25 years of extremely profitable senior automotive expertise from the US, Europe, and Asia with corporations equivalent to Bentley, Porsche and Volkswagen,” Aston Martin Lagonda mentioned in an announcement.
Hallmark additionally spent seven years in senior roles at Jaguar Land Rover. Bentley has considerably elevated earnings 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 mentioned Hallmark would deliver “unrivalled expertise in each the ultra-luxury and British manufacturing sectors to progress our technique and proceed current momentum.”
It marks one more management change for Aston Martin, which has suffered heavy losses lately that narrowed in its 2023 outcomes. Felisa took his place on the helm in Might 2022, after his predecessor Tobias Moers lasted lower than two years within the high job.
Aston Martin Lagonda shares had 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 checklist, together with launching Aston Martin’s first hybrid supercar Valhalla, coping with manufacturing issues with the brand new DB12 mannequin and managing the electrical automobile transition witch which many automakers are struggling.
Aston Martin Lagonda share value.