Aston Martin finance chief to leave for personal reasons

·1 min read
FILE PHOTO: 89th Geneva International Motor Show in Geneva

(Reuters) -Aston Martin Chief Financial Officer Kenneth Gregor will step down due to personal reasons after about 18 months in the role, the luxury carmaker said on Thursday.

Gregor will depart as finance chief and executive director no later than June 30, 2022, and the board has initiated a process to appoint a replacement, the British company said.

After a more than two-decade stint at Jaguar Land Rover, Gregor was recruited in mid-2020 soon after Mercedes' Tobias Moers was appointed as chief executive to help the more than century-old Aston Martin navigate a slump in sales due the coronavirus outbreak.

"Over the last 18 months, Ken has played a significant role in rebuilding Aston Martin Lagonda's financial position and setting the business on a strong pathway for the future," Executive Chairman Lawrence Stroll said.

In November, Aston Martin, whose shares have tumbled since its 2018 market debut, posted a third-quarter pre-tax loss of 97.9 million pounds ($130.01 million), even as sales doubled to 1,349 cars — driven by demand for its first sport utility vehicle, the DBX.

($1 = 0.7530 pounds)

(Reporting by Chris Peters in Bengaluru; editing by Uttaresh.V)