Former Chief Financial Officer at Jaguar Land Rover Kenneth Gregor, has been named new Chief Financial officer by British Sports Luxury car manufacturer Aston Martin Holding Plc. (LON: AMN). This appointment comes as a critical one as the company’s management is looking to revive the over a century old car maker.
His appointment comes barely a month after the company appointed former Chief Executive Officer of Mercedes-AMG, Tobias Moers as its new CEO.
First task at hand for the incoming CFO will be to help Aston Martin make a turnaround as the company reported deep losses in the first quarter of the year. The company attributed the dismal performance to global breakout of deadly coronavirus which has minimized human movements.
Lawrence Stroll, Canadian billionaire and the company’s Chairman believes Gregor is the right man for the job as he possesses necessary experience much needed by the automaker to bounce back to profitability.
“He is a seasoned financial professional, he supported the successful execution of its (JLR’s) growth plans, through product expansion, with robust financial planning and capital allocation policies,” said Stroll.
Gregor , aged 53 boasts of having 20 years of immense experience in the automaker industry. He will be taking over from Viki Bhatia who has been holding the position as an interim CFO. Bhatia assumed the role after previous CFO, Mark Wilson stepped down from the position earlier in the year.