(Alliance News) - Aston Martin Lagonda Global Holdings PLC on Monday said it has hired Kenneth Gregor as chief financial officer as Chair Lawrence Stroll sets about putting his stamp on the luxury car manufacturer.
The FTSE 250-listed firm said Gregor will join the board as an executive director effective immediately. He will report to Stroll and Chief Executive Tobias Moers, once Moers joins the company on August 1.
In April, Canadian billionaire 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.
Viki Bhatia - who was hired as interim CFO following the departure of Mark Wilson in April - will remain at the company for a period of time to support a smooth transition.
Aston Martin said Gregor has over 20 years of automotive experience. He was CFO of Jaguar Land Rover for 11 years from 2008. 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.
"I am delighted to welcome Ken to Aston Martin Lagonda. He is a seasoned financial professional with a strong leadership track record during his years at Jaguar Land Rover. He supported the successful execution of its growth plans, through product expansion, with robust financial planning and capital allocation policies. He is the right finance leader for Aston Martin as we implement our strategy for the business to achieve its full potential" Stroll said.
"On behalf of the board, I would like to thank Viki for his support while we completed the search for a permanent appointment," he added.
Aston Martin shares were trading 1.1% lower at 70.70 pence each on Monday morning in London, and 60% lower from the beginning of the year.
By Ife Taiwo; ifetaiwo@alliancenews.com.
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