(Reuters) – British luxury carmaker Aston Martin on Friday named Bentley head Adrian Hallmark as its new CEO to replace Amedeo Felisa, in the latest management shake-up under chairman and top shareholder Lawrence Stroll.
Hallmark will become the third CEO of Aston Martin since Stroll took over the carmaker in 2020 with a more than 20% stake acquisition.
“When Amedeo was appointed CEO, I spoke of him leading a new phase of growth and development. Two years on, we have delivered on that promise,” Stroll said in a statement.
Lawrence Stroll brought in former Ferrari boss Felisa in 2022 to replace Tobias Moers.
“I believe now is the right time to allow the company to transition to new leadership,” Felisa said in a statement.
Earlier on Friday, Bentley said that Hallmark, who has been CEO of the company since February 2018, was leaving at his own request and by mutual consent.
“He is preparing for new tasks outside the Volkswagen Group with immediate effect,” according to Bentley.
Aston Martin said Hallmark would take over the reins no later than Oct. 1.
The Financial Times first reported the appointment earlier on Friday..
Aston Martin in February delayed the launch of its first electric car because of a lack of consumer demand as record prices for its luxury and special edition models helped the British carmaker shrink annual losses.
Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta
