Aston Martin tapped Bentley’s chief government officer, Adrian Hallmark, to take over as CEO and stabilize the luxury-car maker synonymous with James Bond.
Hallmark will exchange 77-year-old Amedeo Felisa no later than October 1, Aston Martin stated Friday. He’ll be the fourth CEO to steer the corporate since billionaire Lawrence Stroll grew to become government chairman in 2020.
Hallmark, 61, led Volkswagen AG’s Bentley for the previous six years, bolstering its margins by leaning into customized automobiles and instituting higher self-discipline on pricing and stock. Aston Martin’s transformation is without doubt one of the most enjoyable tasks within the luxury-car trade, stated Hallmark, who beforehand held senior roles at Porsche and Jaguar Land Rover.
Aston Martin has repeatedly wanted to lift extra capital since Stroll rescued the corporate 4 years in the past. Saudi Arabia’s Public Funding Fund, China’s Zhejiang Geely Holding Group Co. and EV maker Lucid Group Inc. have taken stakes within the UK firm since mid-2022.
The CEO announcement comes after Aston Martin earlier this month accomplished a £1.15 billion ($1.4 billion) refinancing to ease investor issues about its stability sheet.
Throughout his time in command of Bentley, Hallmark helped to show the ultra-luxury British model round by slicing prices, climbing costs and specializing in personalized vehicles. He joins Aston Martin after Bentley’s second-best yr in its historical past.
“On just a few thousand more cars than we used to sell in the 2000s, we’re now making three times, four times the profit per year,” he informed reporters this month.
Hallmark additionally postponed the launch of Bentley’s first absolutely electrical automobile to late 2026, slightly than subsequent yr. That mirrors a transfer made by Aston Martin, which has pushed back its first battery mannequin by a yr amid a scarcity of demand.
