Exhibition of Aston Martin DB11 during the Turin Motor Show 2018. 

Stefano Guidi | LightRocket | Getty Images

LONDON — Adrian Hallmark, the experienced autos leader of Bentley, has been appointed as new chief executive officer of fellow British luxury automaker Aston Martin.

The 61-year-old will start in his new role no later than Oct. 1, the company announced Friday. Outgoing leader Amedeo Felisa will remain in his post until that time.

“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,” Aston Martin Lagonda said in a statement.

Hallmark also spent seven years in senior roles at Jaguar Land Rover. Bentley has significantly increased profits and revenue under his tenure, though it faced sector headwinds in 2023, including shifting sales patterns in China.

Aston Martin Executive Chairman Lawrence Stroll said Hallmark would bring “unrivalled experience in both the ultra-luxury and British manufacturing sectors to progress our strategy and continue recent momentum.”

It marks yet another leadership change for Aston Martin, which has suffered heavy losses in recent years that narrowed in its 2023 results. Felisa took his place at the helm in May 2022, after his predecessor Tobias Moers lasted less than two years in the top job.

Aston Martin Lagonda shares were up 1.8% at 9:15 a.m. in London.

Despite a rebound in 2023, the company’s share price has fallen sharply since going public in 2018, as it has grappled with supply chain disruption, increased costs and a large debt pile.

Hallmark will face a long to-do list, including launching Aston Martin’s first hybrid supercar Valhalla, dealing with production problems with the new DB12 model and managing the electric vehicle transition witch which many automakers are struggling.

Stock Chart IconStock chart icon

hide content

Aston Martin Lagonda share price.



Source link