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Aston Martin has appointed Bentley CEO Adrian Hallmark as its next chief executive, marking the third leadership change at the UK luxury carmaker in four years.
Hallmark, who also previously worked at JLR, has overseen a turnaround at Bentley that has seen profits rise 10-fold in the past five years and the company sets a strategy to sell only electric models early in the next decade.
Volkswagen-owned Bentley announced Hallmark's immediate departure on Friday. The company said he would leave “at his request and by mutual consent,” adding that it would appoint his successor “at the appropriate time.”
Aston Martin announced that he will join Aston Martin no later than October 1st and replace current president Amedeo Felissa, 77 years old. The Financial Times reported Hallmark's appointment earlier on Friday.
Convincing Hallmark to jump from Bentley represents a major coup for Aston CEO Lawrence Stroll, who has been in talks with several industry executives about becoming permanent leader of the struggling automaker for more than a year.
Stroll's goal when he invested in the business in 2020 was to regain its place among luxury brands by cutting production levels and raising prices.
But the company was hampered by financing needs and losses, as well as internal turmoil caused by multiple leadership changes in a short period.
Hallmark will be Aston's fourth leader since Stroll ousted Andy Palmer shortly after he rescued the company in 2020. Palmer's replacement, Tobias Moers, was appointed from Mercedes and oversaw significant staff turnover at the company before leaving in 2022.
Felisa was one of several Aston executives who previously worked at Ferrari, an appointment which Stroll believes will boost the company's luxury credentials, especially for investors.
Aston shares halved during Felisa's tenure, amid concerns about the company's financial health. Aston announced last week that it had raised £1.15 billion through its latest refinancing.
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At Hallmark, “we are attracting one of the highest caliber leaders not only in our category, but in the entire global automotive industry,” Stroll said. He praised Felisa's contributions to the company and said there would be an orderly handover between the two men.
Hallmark said he has been “impressed with the ongoing transformation of the Aston Martin brand and products from afar, and is honored to have the opportunity to work with Lawrence, the board and the company's employees to lead the next chapter.” He added: “Aston Martin’s transformation is one of the most exciting projects in the ultra-luxury automotive industry.”
Audi CEO Gernot Dollner said Hallmark had “achieved a lot at Bentley,” adding that he had “taken important steps toward the company's long-term success.” Audi oversees Bentley within the Volkswagen Group.
He added: “I would like to thank Adrian Hallmark for his great commitment over the past years and wish him success in his personal and professional future.”
