Aston Martin’s (AML) Share Price Rose 2.7% After Naming New CEO

The Aston Martin Lagonda Global Holdings PLC (LON: AML) share price rose 2.7% after announcing Adrian Hallmark as its new Chief Executive Officer, effective no later than October 1, 2024. 

Hallmark, 61, will transition from his role as Chairman and CEO of Bentley Motors. He brings over 25 years of global experience in the luxury automotive sector, including senior positions at Bentley, Porsche, and Volkswagen.

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The leadership change comes as Amedeo Felisa, the current CEO, prepares to step down. He has led Aston Martin through significant product developments, including the forthcoming launch of the brand’s third next-generation sports car. The move will complete Aston Martin’s new front-engine portfolio, joining the ranks of the DB12 and Vantage.

Aston Martin’s board is confident in Hallmark’s ability to drive the brand forward, leveraging his extensive experience to sustain growth, innovation, and market leadership in the luxury automotive industry.

Lawrence Stroll, Executive Chairman of Aston Martin, said: “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 as we near completion of our thrilling new product portfolio and move closer to our vision of becoming the world’s most desirable, ultra-luxury British performance brand.”

Amedeo Felisa, Aston Martin’s Chief Executive Officer, said: “It has been a great privilege to serve as Aston Martin’s Chief Executive Officer, leading our iconic brand through this exciting era. I am incredibly proud of the progress made over the last two years, which has aligned Aston Martin for a positive future direction. I believe now is the right time for the Company to transition to new leadership.”

Adrian Hallmark added: “Like many working within the ultra-luxury segment, I have admired the continued transformation of Aston Martin’s brand and products from afar and feel honoured to have the opportunity to work with Lawrence, the Board and the Company’s employees to lead its next chapter. The transformation of Aston Martin is one of the most exciting projects within the ultra-luxury automotive industry. I am looking forward to continuing the Company’s great momentum and utilising my experience and passion to further unleash this iconic brand’s potential and take it to even greater success.”

Aston Martin (AML) share price. 

The Aston Martin share price rose 2.70% to trade at 175.56p from Thursday’s closing price of 170.95p.