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Aston Martin poaches Bentley boss 

Published 22/03/2024, 09:45
© Reuters.  Aston Martin poaches Bentley boss 
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Proactive Investors - Aston Martin Lagonda Global Holdings PLC (LON:AML) shares have popped 2% after it revealed it has planned to poach Bentley boss Adrian Hallmark, with the luxury automotive industry veteran set to take the helm by no later than October this year.

Hallmark, who will become Aston Martin's fourth chief executive in as many years, joined Bentley back in 2018 and has helped lift its profits by more than ten times during his tenure.

Bentley, which is owned by Volkswagen (ETR:VOWG_p), said Hallmark's decision was "at his own request and by mutual consent".

He will replace the 78-year-old Amedeo Felisa, who has also held the position as Ferrari (NYSE:NYSE:RACE) boss.

Felisa joined two years ago and chairman and owner Lawrence Stroll has been quick to praise his ability to deliver on promises of growth and development.

However, since taking over in May 2022 shares have sunk around 40%.

Stroll said: "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.

"In Adrian Hallmark, we are attracting one of the highest calibre leaders not just in our segment, but in the entire global automotive industry."

Read more on Proactive Investors UK

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