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Aston Martin names Bentley chief Adrian Hallmark as new CEO

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Aston Martin names Bentley chief Adrian Hallmark as new CEO

British luxury automaker Aston Martin has announced the appointment of Adrian Hallmark, the seasoned automotive leader from Bentley, as its new chief executive officer. The 61-year-old Hallmark is set to assume his new role no later than October 1, as per the company’s announcement made on Friday. The outgoing CEO, Amedeo Felisa, will continue in his position until the transition.

In a statement, Aston Martin Lagonda highlighted Hallmark’s extensive experience in the automotive industry, spanning over 25 years across the US, Europe, and Asia. Hallmark has held notable positions with prestigious brands such as Bentley, Porsche, and Volkswagen. Additionally, he contributed significantly to Jaguar Land Rover during his seven-year tenure there. Notably, Bentley witnessed substantial growth in profits and revenue under Hallmark’s leadership, despite facing challenges in the automotive sector, including shifting sales dynamics in China in 2023.

Lawrence Stroll, Executive Chairman of Aston Martin, expressed confidence in Hallmark’s ability to drive the company forward, citing his unparalleled experience in the ultra-luxury and British manufacturing sectors. Stroll emphasized the importance of Hallmark’s appointment in advancing Aston Martin’s strategic goals and sustaining the recent positive momentum.

Hallmark’s arrival marks another leadership transition for Aston Martin, which has grappled with financial losses in recent years. Although the company’s losses narrowed in 2023, it has witnessed a series of leadership changes. Amedeo Felisa assumed the CEO position in May 2022, following the departure of Tobias Moers, who served less than two years in the role.

Despite the positive news of Hallmark’s appointment, Aston Martin’s shares have fluctuated, indicating ongoing investor scrutiny. At 9:15 a.m. in London, Aston Martin Lagonda shares experienced a modest increase of 1.8%.

Since its initial public offering in 2018, Aston Martin has faced various challenges, including supply chain disruptions, rising costs, and a substantial debt burden, contributing to a decline in its share price. As Hallmark steps into his new role, he faces a daunting task ahead, including overseeing the launch of Aston Martin’s first hybrid supercar, Valhalla, addressing production issues with the new DB12 model, and navigating the transition to electric vehicles—a challenge confronting many automakers in the industry. Hallmark’s leadership will be closely watched as Aston Martin endeavors to navigate through turbulent waters and steer towards sustainable growth and profitability in the competitive automotive landscape.

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