Aston Martin Lagonda Global Holdings plc Appointment of Chief Financial Officer
Jun 22, 2020, 08:00 AM
Ken, 53, will be appointed to the Board as an Executive Director today, 22 June. Ken will report to the Executive Chairman, Lawrence Stroll, and to the Chief Executive Officer, Tobias Moers, once Mr. Moers joins the Company on 1 August. Interim Chief Financial Officer, Viki Bhatia will remain at the Company for a period of time to support a smooth transition.
Ken has over 20 years of automotive experience, most recently as Chief Financial Officer of Jaguar Land Rover (JLR) for 11 years from 2008. Under his leadership, the finance group developed as a strong business partner to support the delivery of shareholder value and the company’s growth ambitions. Prior to his appointment as CFO, Ken held a number of roles within JLR from 1997 including Group Financial Controller and financial control roles within Marketing, Sales and Service and Product Development.
Lawrence Stroll, Aston Martin Lagonda Executive Chairman said:
"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.
On behalf of the Board, I would like to thank Viki for his support while we completed the search for a permanent appointment."
Ken Gregor said:
"I am delighted to be joining Aston Martin Lagonda. There is an exciting opportunity to build on the Company's inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become a sustainably profitable business. I am looking forward to working with Lawrence, Tobias and the whole Aston Martin team to build a stronger business for our customers, our employees, our partners and our shareholders."
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Kenneth Gregor’s service agreement, remuneration and benefits are consistent with Aston Martin Lagonda's Remuneration Policy as approved by shareholders at the AGM in June 2019.
- Base salary of £425,000 per annum
- Annual bonus opportunity of up to 150% of salary
- Pension in line with the majority of the workforce and other non-cash benefits in accordance with the Remuneration Policy
- Annual award under the Long-Term Incentive Plan of up to 200% of salary
The Company confirms there is no further information to be disclosed under the requirements of Listing Rule 9.6.13R in relation to Kenneth Gregor’s appointment.
No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this release. This release contains certain forward-looking statements, which are based on current assumptions and estimates by the management of Aston Martin Lagonda Global Holdings plc ("Aston Martin Lagonda"). Past performance cannot be relied upon as a guide to future performance and should not be taken as a representation that trends or activities underlying past performance will continue in the future. Such statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from any expected future results in forward-looking statements. These risks may include, for example, changes in the global economic situation, and changes affecting individual markets and exchange rates.
Aston Martin Lagonda provides no guarantee that future development and future results achieved will correspond to the forward-looking statements included here and accepts no liability if they should fail to do so. Aston Martin Lagonda undertakes no obligation to update these forward-looking statements and will not publicly release any revisions that may be made to these forward-looking statements, which may result from events or circumstances arising after the date of this release.
This release is for informational purposes only and does not constitute or form part of any invitation or inducement to engage in investment activity, nor does it constitute an offer or invitation to buy any securities, in any jurisdiction including the United States, or a recommendation in respect of buying, holding or selling any securities