Aston Martin Lagonda Global Holdings Plc climbed the most in four months after the British carmaker issued an upbeat outlook for the coming year, driven by demand for its debut SUV. The company plans to produce 6,000 vehicles this year, up from just 3,394 in 2020, with the £158,000 ($223,000) DBX model accounting for much of that output. Aston Martin’s quarterly revenue and adjusted earnings beat estimates, sending the shares up as much as 13 per cent in London.
Aston Martin spent last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll. The 61-year-old fashion mogul has injected much-needed cash and forged closer ties with Daimler AG’s Mercedes-Benz to ensure the company survives tumultuous times for the auto industry.
19 February 2021 | 13:51pm
StockMarketWire.com - Luxury carmaker Aston Martin Lagonda has announced that Amr AbouelSeoud, who has served as a director of the company since 7 September 2018, has stepped down from the board with effect from 18 February 2021.
Aston Martin Lagonda announced that the shareholding of the Adeem/Primewagon shareholder group is now less than 7% of its issued share capital.
In accordance with the relationship agreement between the company and the Adeem/PW Group, AbouelSeoud, the representative director of the Adeem/PW Group, agreed to step down and the relationship agreement has been terminated.
AbouelSeoud was the longest serving director within the group since March 2007.
(Feb 4): Daimler AG’s Ola Kallenius is making a dramatic move to win over investors who have knocked the manufacturer for keeping its luxury-car and commercial-vehicle operations under one roof.
The Mercedes-Benz maker plans to distribute a majority of its Daimler Truck unit to shareholders by year-end, expecting it will quickly qualify for Germany’s benchmark stock index. Its most iconic brand also will become the name of the auto company, a move that underscores the chief executive officer’s desire for a clear separation of the two businesses.
For Kallenius, it’s a split in more ways than one. The decision to fundamentally change the company’s structure marks a major break from his predecessor, Dieter Zetsche, who was pressured in the wake of Daimler’s divorce from Chrysler to make deeper changes. Zetsche rejected the car-truck separation idea, arguing that a broader industrial presence would offer more protection against swings in individual market segments.
Ferrari Owners and F1 Fans Get Some Troubling News - The Washington Post washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.