- Adrian Hallmark has overseen a significant turnaround at Bentley since his arrival
- During his tenure, the luxury automaker achieved record sales and profits.
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The boss of Bentley Motors has left the luxury carmaker to take over as CEO of struggling rival Aston Martin Lagonda.
Bentley confirmed on Friday the departure of Adrian Hallmark with immediate effect, having overseen a significant turnaround at the carmaker since becoming chief executive in February 2018.
During his tenure, the automaker achieved record sales and profits due to sustained high demand for its Bentayga SUV vehicle and the growing popularity of personalized features among customers.
Adrian Hallmark, 61, left his role at Bentley “by mutual consent” after achieving the second-best financial result in 2023. He is now heading to British luxury rival Aston Martin.
Hallmark, 61, has also expanded the company’s hybrid engine offerings and pledged to invest billions in creating exclusively electric cars.
He will become Aston Martin’s fourth chief executive in four years when he takes over from Italian Amedeo Felisa no later than October 1.
Felisa took over from Tobias Moers in May 2022, but his tenure was marred by high and persistent losses caused in part by production delays and software problems with the company’s new DB12 sports car.
The company reported a pre-tax loss of £239.8m in 2023, following a loss of £495m the previous year, despite selling its vehicles at a record average price of £231,000.
Last month, Aston Martin said the launch of its first battery-powered electric vehicle would be delayed by a further year to 2026, with executive chairman Lawrence Stroll admitting demand was “not where we thought it would be.” ‘she would be”.
Similarly, Bentley announced Tuesday that it would not meet its goal of selling exclusively electric vehicles by the end of this decade.
Hallmark will be Aston Martin’s fourth chief executive in four years when he takes up the role on October 1, 2024.
Hallmark has further urged Labor Party leader Sir Keir Starmer to refrain from bringing forward the UK’s ban on petrol and diesel cars from 2035 to 2030.
Before joining Bentley, Hallmark spent seven years at Jaguar Land Rover, first as global director of the Jaguar brand and then as group strategy director.
He also worked for Saab, Volkswagen and Porsche and spent six years in Bentley’s sales and marketing division.
Hallmark’s arrival at Aston Martin, known for its association with the James Bond film franchise, will come as the company prepares to launch Valhalla, a hybrid supercar built in collaboration with Red Bull Racing.
Stroll said: “With Adrian Hallmark, we attract one of the most prestigious leaders, not only in our segment, but in the entire global automotive industry.
He added: “Adrian will bring unrivaled experience in the ultra-luxury and British manufacturing sectors to Aston Martin to advance our strategy and build on recent momentum. »
Aston Martin Lagonda Global Holdings shares were up 2.05 per cent at 174 pence as of early Friday afternoon, down almost 90 per cent from their IPO price of £19.