Aston Martin appointed Bentley Chairman Adrian Hallmark to take over as CEO and stabilize the luxury car maker synonymous with James Bond.
Hallmark will replace 77-year-old Amedeo Felisa no later than October 1, Aston Martin announced on Friday. He will be the fourth CEO to lead the company since billionaire Lawrence Stroll became chairman in 2020.
The 61-year-old Hallmark drove Volkswagen AG’s Bentley in the past six years, strengthening its margins by betting on personalized vehicles and introducing greater discipline in pricing and inventory. Aston Martin’s transformation is one of the most exciting projects in the luxury car industry, said Hallmark, who previously held senior positions at Porsche and Jaguar Land Rover.
Since Stroll rescued the company four years ago, Aston Martin has repeatedly had to raise more capital. Saudi Arabia’s Public Investment Fund, China’s Zhejiang Geely Holding Group Co. and electric vehicle maker Lucid Group Inc. have acquired shares in the British company since mid-2022.
The CEO’s announcement came after Aston Martin completed a 1.15 billion pound ($1.4 billion) refinancing earlier this month to address investor concerns about its balance sheet.
During his time leading Bentley, Hallmark helped transform the British ultra-luxury brand by cutting costs, increasing prices and focusing on the brand personalized vehicles. He moves to Aston Martin after Bentley’s second best year in its history.
“With just a few thousand more cars than we sold in the 2000s, we are now making three to four times the profit per year,” he told reporters this month.
Hallmark has also pushed back the launch of Bentley’s first all-electric vehicle to the end of 2026 rather than next year. This reflects a move by Aston Martin who has done this Pushed back due to a lack of demand, its first battery model was delayed by a year.