CEO of McLaren’s road car division steps down

Mike Flewitt is stepping down as chief govt officer at McLaren Automotive, the supercar business of McLaren Group.

Flewitt first joined McLaren Automotive in 2012 and was promoted to the CEO function in 2013.

The function can be crammed by Michael Macht, a non-executive director at McLaren Group and a former CEO of Porsche, till a substitute for Flewitt will be discovered.

“I feel incredibly proud to have led McLaren Automotive through most of its first, highly successful decade and am privileged to have played a part in the incredible McLaren story,” Flewitt mentioned in an announcement launched on Wednesday.

McLaren Automotive was solely established in 2010 however already has a group of supercars which are as fascinating as fashions from Ferrari and Lamborghini, each of which have been within the business for many years. McLaren additionally outsells Lamborghini in the case of supercar gross sales.

As CEO, Flewitt was influential in that success, although he has additionally been criticized for changing fashions too rapidly, and consequently hurting resale values. In the early months of the pandemic, Flewitt introduced that McLaren Automotive would gradual its aggressive Track25 plan which known as for 18 new automobiles or derivatives to be launched within the space of about seven years.

McLaren Automotive has additionally struggled way more than rivals in coping with the pandemic. In the previous year, the company has needed to shed employees, and its McLaren Group mother or father has needed to promote and lease again its headquarters, promote a stake in its Formula One group, and promote its McLaren Applied technology business. The company additionally wanted further funding from major shareholder Bahrain and new shareholder Saudi Arabia.

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