Aston Martin Lagonda shares were up 10.6% to 935.2p in late morning trading on Wednesday, after the company announced the appointment of former Ferrari executive Amedeo Felisa as CEO.
The luxury car group reported that Felisa would replace current CEO Tobias Moers, who is scheduled to step down from the position by mutual agreement with immediate effect.
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Moers will reportedly remain with the company to ensure a smooth transition until the close of July.
Felisa joined Aston Martin Lagonda as a non-executive director prior to his appointment as CEO.
The automotive veteran spent 26 years in leadership roles at Ferrari, including eight as CEO and the guide behind the group’s turnaround and growth phase.
Felisa is reportedly set to focus on Aston Martin Lagonda’s strategic objectives, financial targets and road to electrification, starting with the appointment of a fresh wave of external hires to be announced over the coming weeks.
“I am extremely pleased that Amedeo has agreed to take on the role of CEO,” said Aston Martin Lagonda executive chairman Lawrence Stroll.
“He has extensive knowledge of both Aston Martin’s business and the wider automotive industry with an excellent track record and previous experience of leading a major ultra-luxury car manufacturer.”
“His technical acumen and charisma will be inspirational for the entire Company.”
The firm also reported the appointment of Ferraro LaFerrari creator Roberto Fedeli as chief technical officer, who joined the company after 26 years at Ferrari, and is scheduled to start at the group from 1 June 2022.
Fedeli has been confirmed to lead Aston Martin Lagonda’s technical team and accelerate its engineering expertise.
“With the appointment of Roberto, we add another world class name to our team,” said Stroll.
“He will help us deliver our future strategy, with a particular focus on technology advancements, and our in-house engineering capabilities, as we move towards electrification.”
“Roberto is a proven innovator and team builder. He conceived some of the world’s most desirable performance sports cars. His extensive experience of this sector, coupled with his leadership style, will contribute significantly to shape our exciting future product portfolio and reinvigorate our technical team.”
