Aston Martin plan new CEO to double sales

Aston Martin plan new CEO to double sales

Aston Martin is aiming to double it’s sales by 2016, with an expansion of it’s dealer network outside of Europe and with new models. The British Sports car maker which has featured in many James Bond films over the years, may then also invest in an SUV (Spors Utility Vehicle) to attempt to broaden it’s appeal to wealthy drivers. Volkswagen’s Bentley and Fiat’s Maserati are among other supercar makers who are developing SUVs to expand in the United states and emerging markets such as Russia and China.

Aston Martin also plan to appoint a new CEO within the next three months

The company also plan to appoint a new CEO within the next three months, whilst Ulrich Bez, the current CEO, who has led Aston Martin for thirteen years, will more than likely become a non executive chairman, according to a source. It has also been said that Aston Martin has several candidates pipped for the post.

Aston Martin is the only Worldwide luxury automotive producer that actually doesn’t belong to a larger manufacturer group. Following Investindustrial, a London based firm’s purchase of a 37.5% stake in the company last year, the company in January laid out plans to spend £500,000,000 on the expansion of the company over the next four years to challenge Fiat’s Ferrari and Maserati and Volkswagen’s Bentley.

Andrea Bonomi, the chairman of Investindustrial said that he wishes to expand the Aston Martin line-up  whilst also establishing partnerships

The chairman of Investindustrial, Andrea Bonomi earlier this year said that he wishes to expand the Aston Martin line up whilst also establishing partnerships to limit costs of developing models. The company signed a deal in July to attain engines from the AMG high performance division of Daimler AG (DAI), which is the owner of Mercedes-Benz.

Other shareholders in Aston Martin are Investment Dar and Adeem Investment Co, which bought the United Kingdom carmaker from Ford in 2007, the owner of the manufacturer for 20 years.