Aston Martin chose Adrian Hallmark, the current CEO of Bentley, to become its new CEO. This move aims to bring stability to the luxury carmaker, famous for its association with James Bond.
Hallmark will take over from Amedeo Felisa, who is 77 years old, by October 1. This decision marks the fourth CEO change since billionaire Lawrence Stroll became the executive chairman in 2020.
Adrian Hallmark, aged 61, has led Bentley, which is part of Volkswagen AG, for the past six years. Under his leadership, Bentley improved its profits by focusing on personalized cars and managing prices and inventory better.
Hallmark expressed excitement about joining Aston Martin, citing its transformation as one of the most exciting projects in the luxury car industry. Before Bentley, he held senior positions at Porsche and Jaguar Land Rover.
Aston Martin has faced financial challenges since Stroll rescued it four years ago. Recently, the company raised more funds with investments from Saudi Arabia’s Public Investment Fund, China’s Zhejiang Geely Holding Group Co., and EV maker Lucid Group Inc. The announcement of a new CEO follows Aston Martin’s refinancing of £1.15 billion ($1.4 billion) earlier this month to address investor concerns about its finances.
During Hallmark’s tenure at Bentley, he implemented cost-cutting measures, raised prices, and focused on personalized cars, leading to significant improvements. Bentley experienced one of its best years under his leadership.
Hallmark decided to delay Bentley’s first fully electric vehicle’s launch to late 2026 instead of next year. This decision aligns with Aston Martin’s postponement of its first electric model by a year due to low demand.
Also read: Leadership Transition: Bentley CEO Steps Down for Aston Martin