The overhaul of Aston Martin Lagonda under Formula One motor racing financier Lawrence Stroll continued today with the filling of another key boardroom role.
The Canadian billionaire’s recruitment of Ken Gregor as chief financial officer for the luxury car maker comes less than a month after Mercedes-AMG boss Tobias Moers was named as chief executive from August.
Gregor has 20 years’ experience in the car industry, most recently as finance boss at Jaguar Land Rover for 11 years from 2008. Stroll said: “He is a seasoned financial professional with a strong leadership track record during his years at Jaguar Land Rover.
“He is the right finance leader for Aston Martin as we implement our strategy for the business to achieve its full potential.”
Since listing shares at 1,900p in October 2018 Aston has been hit by weak sales and mounting debts, resulting in a string of profit warnings. Stroll put together a rescue package for the company, taking a 25% stake as part of a £536 million capital raising earlier this year. His turnaround plans include the launch of an Aston Martin F1 team from next year.
The shares have more than doubled from their low of 30p in mid-May, although they were slightly lower at 71p after today’s appointment.