McLaren Group announces new board appointments including ex-Porsche CEO

British supercar maker’s new investment comes with new board appointments in tow

Elva

The McLaren Group, which encompasses its Automotive, Racing and Technology businesses, has announced five new board appointees following a £550million cash injection from both existing and new investment sources secured in this middle of this year.

Two of these appointments have been drawn from new major shareholders Ares Management Corp and Public Investment Fund (PIF), with one more coming from existing shareholder Mumtalakat. These three executive board placements will accompany their investment to support the long-term strategic growth of McLaren Automotive, which has been dealt various financial challenges before and during the global pandemic.

There has also been the appointment of two non-executive directors, brought onto the board to leverage their experience from time in leading roles across the automotive industry. These include Stefan Jacoby, who served as an executive vice president and president of General Motors’ international operations, as well as CEO of Volvo and the VW’s American operations before that. 

The second non-executive position will be filled by Michael Macht, ex-Porsche CEO and former member of VW's executive board. These experienced placements from the wider OEM car industry will help fortify McLaren’s future production and development activity as it moves towards a new generation of products, starting with the hybrid-powered Artura.

This news comes after further asset generation from the sale of the McLaren Technology Centre, and with investments into increased capacity and an all-new powertrain now paid for, the worst of the McLaren Group’s financial challenges should be over. This should mean big things for the Automotive business over the next couple of years, and with a pair of eCoty wins under its belt already, we can’t wait to see what it has coming up next.  

Recommended

Lamborghini Aventador Ultimae sold out – V12 supercar calls it a day, for now
Lamborghini Aventador LP780-4 Ultimae
Lamborghini Aventador

Lamborghini Aventador Ultimae sold out – V12 supercar calls it a day, for now

The final Aventador Ultimae and next year’s Countach are now spoken for, calling the end of fresh orders for Lambo’s V12 models
21 Oct 2021
New McLaren Artura revealed – all-new hybrid supercar to rival Ferrari F8 Tributo
McLaren Artura front
McLaren Artura coupe

New McLaren Artura revealed – all-new hybrid supercar to rival Ferrari F8 Tributo

McLaren’s next generation has arrived with a fresh powertrain, chassis and tech
7 Oct 2021
New Audi R8 V10 Performance RWD revealed with upgraded 562bhp V10 engine
Audi R8 V10 Performance RWD – front tracking
Audi R8

New Audi R8 V10 Performance RWD revealed with upgraded 562bhp V10 engine

Audi’s simplified the R8 range, upgrading the RWD model to 562bhp in both coupe and Spyder forms
7 Oct 2021
New Chevrolet Corvette C8 review – America's sports car has turned supercar
Corvette C8 Stingray EU – front
Chevrolet Corvette

New Chevrolet Corvette C8 review – America's sports car has turned supercar

Chevrolet's mid-engined Corvette is a superbly rounded and capable beginning of a new type of American supercar
5 Oct 2021

Most Popular

2022 Range Rover previewed before reveal next week
Range Rover teaser
Land Rover Range Rover

2022 Range Rover previewed before reveal next week

A new era for the Range Rover is about to be revealed, with new engines, tech and styling
20 Oct 2021
Used car deals of the week
Used car deals Oct 20 21
Features

Used car deals of the week

Here's what caught evo’s fancy this week on the second hand car market
20 Oct 2021
2022 BMW M3 Touring spied ahead of reveal
BMW M3 Touring
BMW M3 Touring

2022 BMW M3 Touring spied ahead of reveal

Photographers have spotted the upcoming M3 Touring testing on the Nürburgring before it reaches customers next year
14 Oct 2021