Bentley Motors’ boss has left the luxury carmaker to take over as chief executive of its struggling rival, Aston Martin Lagonda.
Bentley confirmed on Friday that Adrian Hallmark had departed with immediate effect, having overseen a significant turnaround of the carmaker since becoming its chairman and chief executive in February 2018.
During his tenure, the carmaker achieved record sales and profits due to sustained high demand for its Bentayga SUV vehicle and the rising popularity of personalised features among customers.
Adrian Hallmark, 61, has left his position at Bentley ‘by mutual consent’ after delivering second highest financial results in 2023. He’s now headed to luxury British rival Aston Martin
Hallmark, 61, also expanded the firm’s hybrid motor offering and commitment to invest billions towards creating exclusively electric cars.
He will be Aston Martin’s fourth chief executive in four years when he takes over from Italian-born Amedeo Felisa no later than 1 October.
Felisa succeeded Tobias Moers in May 2022, but his time in charge has been marred by continued high losses caused partly by production delays and software issues with the firm’s new DB12 sports car.
The company recorded a £239.8million pre-tax loss in 2023, following a £495million loss the previous year, despite its vehicles selling for 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 an extra year to 2026, with executive chairman Lawrence Stroll admitting that demand was ‘not what we thought it was going to be’.
Similarly, Bentley announced on Tuesday that it would miss its target to exclusively sell EVs by the end of this decade.
Hallmark will be Aston Martin’s fourth chief executive in four years when he takes over on 1 October 2024
Hallmark further urged Labour Party leader Sir Keir Starmer to refrain from bringing forward the UK’s prohibition on petrol and diesel cars from 2035 to 2030.
Prior to Bentley, Hallmark spent seven years at Jaguar Land Rover, firstly as the global director of its Jaguar brand and then as group strategy director.
He also worked for Saab, Volkswagen, and Porsche and had a six-year spell in Bentley’s sales and marketing division.
Hallmark’s arrival at Aston Martin, known for its association with the James Bond film franchise, will occur as the firm prepares to launch Valhalla, a hybrid supercar built in collaboration with Red Bull Racing.
Stroll said: ‘In Adrian Hallmark, we are attracting one of the highest calibre leaders not just in our segment, but in the entire global automotive industry.
He added: ‘Adrian will bring to Aston Martin unrivalled experience in both the ultra-luxury and British manufacturing sectors to progress our strategy and continue recent momentum.’
Aston Martin Lagonda Global Holdings shares were 2.05 per cent higher at 174p on early Friday afternoon, nearly 90 per cent down on their £19 IPO price.
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