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Aston Martin has named Bentley CEO Adrian Hallmark as its next chairman. This is the third leadership change at the British luxury car maker in four years.
Hallmark, who also previously worked at JLR, has overseen a turnaround at Bentley that has seen profits rise 10-fold in the last five years, and the company has set a strategy to sell only electric models early in the next decade .
Bentley, owned by Volkswagen, announced on Friday that it was leaving Hallmark immediately. He is leaving “at his own request and by mutual agreement,” the company said, adding that it will name a successor “in due course.”
Aston announced that he would move to Aston Martin no later than October 1st and replace the current boss, 77-year-old Amedeo Felisa. The Financial Times reported on Hallmark’s appointment on Friday.
Persuading Hallmark to leave Bentley is a significant achievement for Aston’s chief executive, Lawrence Stroll, who has been talking to several industry executives for more than a year about taking on a permanent leadership role at the struggling automaker.
When Stroll invested in the company in 2020, he wanted to restore its place among luxury brands by cutting production and increasing prices.
But the company suffered from funding needs and losses, as well as internal unrest caused by several leadership changes in a short period of time.
Hallmark will be Aston’s fourth leader since Stroll ousted Andy Palmer shortly after rescuing the company in 2020. Palmer’s successor, Tobias Moers, was hired by Mercedes and caused significant staff turnover at the company before leaving the company in 2022.
Felisa was one of several Aston executives who had previously worked at Ferrari, an appointment that Stroll believed would boost the company’s reputation in the luxury sector, particularly among investors.
Aston’s shares have halved under Felisa’s tenure amid concerns about the company’s finances. Last week Aston announced it had raised £1.15 billion through its latest refinancing.
Stroll said that in Hallmark, we are “attracting one of the highest caliber executives not only in our segment but in the entire global automotive industry.” He praised Felisa’s contributions to the company and said there would be an orderly handover between the two men.
Hallmark said he had “admired from afar the continued transformation of Aston Martin’s brand and products and was honored to have the opportunity to work with Lawrence, the company’s board and employees to deliver the company’s next chapter.” lead”. He added: “The transformation of Aston Martin is one of the most exciting projects in the ultra-luxury automotive industry.”
Audi CEO Gernot Döllner said Hallmark had “accomplished a lot at Bentley,” adding that he had “taken important steps for the long-term success of the company.” Audi looks after Bentley within the VW Group.
He added: “I would like to thank Adrian Hallmark for his great commitment over the last few years and wish him all the best for his personal and professional future.”