REG - Aston Martin Lagonda - Appointment of New Chief Executive Officer

Aston Martin Lagonda Global HoldingsAnnouncement

04/05/2022 07:00

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RNS Number : 2010K  Aston Martin Lagonda Global Hld PLC  04 May 2022

4 May 2022

 

Aston Martin Lagonda Global Holdings plc

 

Appointment of new Chief Executive Officer and Chief Technical Officer

Strengthening Leadership Team to Spearhead Electrified Future

 

The Board of Aston Martin Lagonda Global Holdings plc (the "Company") today
announces that by mutual agreement Tobias Moers will stand down from his role
as Chief Executive Officer. He will leave the Board of the Company with
immediate effect and support the leadership team with a smooth transition
until the end of July. The Board is grateful for all that Tobias has
contributed during his time at Aston Martin, setting the Company in the right
direction, building new foundations and improving its operations.

The Board announces the appointment of Amedeo Felisa as Chief Executive
Officer. A former CEO of Ferrari, he is one of the most highly regarded
leaders and engineering professionals in the high-performance luxury sports
car sector. Currently a Non-Executive Director of the Company, Amedeo will be
appointed an Executive Director with immediate effect.

Amedeo has spent his entire career in automotive and engineering with over 26
years in leadership roles at Ferrari, including eight as CEO, guiding the
Italian-based luxury automotive OEM through its turnaround and growth phase as
the engineering and product-development force behind every new model.

With Aston Martin set to enter a new phase of growth and development, Amedeo
will focus on delivering the Company's continued strategic objectives,
financial targets and roadmap towards electrification. To meet these goals,
Amedeo is to implement and lead a new organisational structure with a focus on
broadening the technical team through the promotion of internal talent
together with added expertise of strategic external hires, identified and set
to be announced in the coming weeks.

To further strengthen the leadership team, the Company has also appointed the
highly experienced engineer Roberto Fedeli as its Chief Technical Officer.
Roberto is another proven leader in the luxury high-performance sports cars
sector. He is considered the creator of Ferrari LaFerrari, the Italian
company's first hybrid supercar as well as some of its most iconic models
during his 26-year tenure. Roberto will join Aston Martin with effect from 1
June 2022 to lead the Company's technical team and expand its reputation for
cutting-edge engineering. He will be bringing his extensive knowledge, passion
for innovation and his most recent experiences in the implementation of
electrification technologies during his time at BMW.

To deliver the next-generation sports cars, and lead the way to
electrification, these two appointments will significantly strengthen the
senior leadership team which, combined with the new organisational structure,
will drive further and faster innovation and instil greater cohesion and
effectiveness across the Company.

Lawrence Stroll, Aston Martin Lagonda Executive Chairman, said:

"Firstly, I would like to extend my thanks and appreciation for all that
Tobias has achieved. He joined Aston Martin at a critical time for the Company
and brought significant discipline to its operations. The benefit of these
actions is clear in the improved operating performance of the Company and in
our great new product launches.

Now, there is a need for the business to enter a new phase of growth with a
new leadership team and structure to ensure we deliver on our goals. Our new
organisational framework will support the Company to its full potential,
foster greater collaboration, a more cohesive way of working, both internally
and externally, especially with our strategic partners, including
Mercedes-Benz AG, and further accelerate technology transfer programmes with
the Aston Martin Aramco Cognizant Formula One(TM) Team.

I am extremely pleased that Amedeo has agreed to take on the role of CEO. He
has extensive knowledge of both Aston Martin's business and the wider
automotive industry with an excellent track record and previous experience of
leading a major ultra-luxury car manufacturer. His technical acumen and
charisma will be inspirational for the entire Company.

With the appointment of Roberto, we add another world class name to our team.
He will help us deliver our future strategy, with a particular focus on
technology advancements, and our in-house engineering capabilities, as we move
towards electrification. Roberto is a proven innovator and team builder. He
conceived some of the world's most desirable performance sports cars. His
extensive experience of this sector, coupled with his leadership style, will
contribute significantly to shape our exciting future product portfolio and
reinvigorate our technical team.

We believe these changes will bring significant long-term benefits to everyone
involved with Aston Martin. We are poised to deliver good growth in 2022 and
remain extremely confident in the medium and long-term prospects for the
Company as we transform Aston Martin into the world's most desirable
ultra-luxury British performance brand."

 

Amedeo Felisa, Aston Martin Lagonda Chief Executive Officer said:

"It is very exciting for me to take on this role at Aston Martin as we embark
on the Company's next phase of growth. I have great confidence in Lawrence's
vision, and I'm grateful for his, and the Board's, trust in my leadership.
Over the past year, through my work as a Non-Executive Director and Chairman
of the Product Strategy Committee, I have come to know Aston Martin and its
senior leadership team very well. I know there is an impressive pool of talent
inside the Company, as well as an extraordinary technological ecosystem in the
UK, made up of innovators, universities, automotive and racing specialists,
with whom we want to deepen our relationships.

We have a clear objective to continue the transformation of Aston Martin into
an ultra-luxury, high-performance brand and become a leader in our sector. We
have a highly experienced and talented team throughout the organisation that
together will enable us to achieve our goals. We have a tremendous opportunity
to shape and enhance the uniqueness of Aston Martin's future products, and to
further grow our appeal with new customers by harnessing the introduction of
new technologies, electrification, connectivity and innovative materials."

 

 

The Company has also today made an announcement regarding its first quarter
results for the three months to 31 March 2022.

 

This announcement includes inside information as defined in Article 7 of the
Market Abuse Regulation No. 596/2014 and is being released on behalf of Aston
Martin Lagonda Global Holdings plc by Rachael Hambrook, Interim Company
Secretary.

 

 

Regulatory Disclosures

The Company confirms that, in respect of Listing Rule 9.6.13R(1), Mr Felisa
currently serves as Chairman of Atop S.p.A.  In respect of Listing Rules
9.6.13R (2)-(6), there are no details to disclose.

 

Mr Felisa will step down as a member of the Audit and Risk Committee.  He
will also step down as chair of the Product Strategy Committee which committee
will be discontinued as a Board Committee.

 

The Company will disclose details of exit arrangements for Tobias Moers on its
website in due course, in accordance with its statutory obligations.

 

 

Remuneration Arrangements

Mr Felisa's service agreement, remuneration and benefits will be consistent
with Aston Martin Lagonda's Remuneration Policy as approved by shareholders at
the AGM in June 2019 and the proposed new Remuneration Policy to be considered
by shareholders at the Company's AGM on 25 May 2022.

 

 

Enquiries

 

 Investors and Analysts
 Sherief Bakr        Director of Investor Relations              +44 (0)7789 177547

sherief.bakr@astonmartin.com
 Holly Grainger      Deputy Head, Investor Relations             +44 (0)7442 989551

holly.grainger@astonmartin.com
 Brandon Henderson   Senior Manager, Investor Relations          +44 (0)7585 326704
                                                                 brandon.henderson@astonmartin.com
 Media
 Kevin Watters       Director of Communications                  +44 (0)7764 386683

kevin.watters@astonmartin.com
 Paul Garbett        Head of Corporate and Brand Communications  +44 (0)7501 380799

paul.garbett@astonmartin.com
 Grace Barnie        Corporate Communications Manager            +44 (0)7880 903490
                                                                 grace.barnie@astonmartin.com

 Tulchan Communications
 Harry Cameron and Simon Pilkington                              +44 (0)20 73534200

 

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