2nd Dec 2021 10:09
(Alliance News) - Shares in Aston Martin Lagonda Global Holdings PLC plunged on Thursday morning after the luxury carmaker said its Chief Financial Officer Kenneth Gregor will step own "for personal reasons".
Aston Martin shares fell 5.6% to 1,448.97 pence each in London on Thursday morning.
Warwick-based Aston Martin said that Gregor will be leaving his post no later than June 30 next year.
Aston Martin has started looking for a replacement and will update investors once it finds a suitable successor.
Gregor said: "I am proud of what I have achieved in my time at Aston Martin Lagonda. It has been an honour to play my part in shaping the company's future direction, helping to establish a clear roadmap to profitability and financial sustainability."
Gregor was appointed as Aston Martin CFO last year in June, joining from Jaguar Land Rover after spending 11 years there.
Prior to that, he held a number of roles at Jaguar from 1997 including group financial controller as well as financial control roles within marketing, sales & service and product development.
Gregor was appointed by Canadian billionaire and Aston Martin Chair Lawrence Stroll.
In April 2020, Stroll led a consortium that bought a 25% stake in Aston Martin and then sold part of that to another consortium led by Mercedes-AMG Formula 1 team principal Toto Wolff. An overhaul of the leadership team by Stroll at the end of May saw the departure of Andy Palmer as chief executive and the hire of Mercedes executive Moers as Palmer's replacement.
By Greg Roxburgh; [email protected]
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