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Aston Martin names new CFO

Aston Martin is on the verge of a resurgence, instituting (among a great many other things) new top leadership, and that includes a new chief financial officer. Mark Wilson comes to Gaydon with a wealth of experience at British sports car manufacturers, having previously worked for Lotus and McLaren. His most recent posting, however, was as CFO and COO at renewable energy insurer G-Cube Underwriting. He'll take up his new job as Chief Financial Officer (and his place on the executive board) at Aston Martin on June 8, reporting directly to Andy Palmer, who in turn took up his job as CEO just this past September. Considering Aston was recently injected with an influx of cash, hiring a new money man was probably prudent. But hiring new top personnel, of course, isn't the only change Aston is making. It's got a new platform in the works, a new engine under development with Mercedes-AMG and a raft of new projects in the pipeline. That includes the replacement of every one of its models by the end of the decade and the addition of as many as three new model lines – particularly the DBX crossover that could be the first new Aston built in America. ASTON MARTIN NAMES MARK WILSON AS NEW CHIEF FINANCIAL OFFICER 14 May 2015, Gaydon: Aston Martin today announces the appointment of Mark Wilson as Chief Financial Officer. Joining the business on Monday 8 June, Wilson, will report directly to Aston Martin CEO Dr Andy Palmer and take a place on the Executive Board at the company's global HQ in Gaydon, Warwickshire. With a strong track record of senior automotive experience already accrued with McLaren Automotive and Lotus Cars Ltd, Wilson joins the luxury British sports car maker from renewable energy insurer G-Cube Underwriting where he held the post of Chief Financial and Operating Officer. Welcoming Wilson to the team, Dr Palmer said: "Mark joins us at what is, undeniably, an extremely exciting time for Aston Martin. We are currently implementing the largest investment plan in our history which will see a total remake of our product portfolio. By the end of the decade, not only will our current line-up have been replaced entirely, we will have added up to three extra model lines and entered new market segments.

Aston Martin to raise funds for new models including CUV, hybrid

Aston Martin CEO Andy Palmer named three leads for new vehicle programs when he took the reins, now the company is looking for the money to give those leads something to do. Reuters reports that the Gaydon firm is considering debt or equity financing to raise 100 to 150 million pounds ($156M to $234M US) in funding for "an expansion from the current model range," according to an unnamed source. On top of that investment round, Aston Martin is overhauling its working capital streams to unlock more funds. As one of the industry's few remaining independent carmakers, the company has an intense five years ahead of it, working to revamp its current vehicles with a 500-million-pound investment, entering new segments to grow sales to roughly 10,000 units annually from 4,200 cars in 2013, and pay down hundreds of millions of pounds in current debt. The big high notes observers will be looking for over the next few years are the successor to the DB9, pegged for 2016, profitability predicted in 2017, a huge debt note due in 2018, and the formal end of the recovery period in 2020. Our own eyes will be locked on the DB10 in Spectre, naturally, and the Lagonda-honoring Taraf in other markets, hopefully. At least one of the new vehicles is expected to be a crossover, a segment Aston seemingly cannot ignore now that Bentley and Rolls-Royce are committed to making plays there. However, Reuters says an official announcement of what we can expect won't come until the 2015 Geneva Motor Show. Among the other models said to be up for funding? Sedans (perhaps including a Rapide replacement?) and an unspecified hybrid.

Aston Martin CEO plans for seven-vehicle lineup

Aston Martin which has survived for the last hundred or so years with a remarkably tiny vehicle lineup, is now making preparations for its next seven vehicles, according to the company's CEO, Andy Palmer. The CEO elaborated on the company's "Second Century Plan" explaining that it'd feature a three-pillar product road map that is apparently "crystal clear." Pillar one, sports cars, should surprise no one. The three-pronged lineup will continue, with the new DB11 sandwiched between the Vantage and Vanquish replacements. But don't expect more than three Aston sports cars – Palmer shut down the idea of a car below the Vantage. Next, we have "saloons," which means sedans, if you prefer coffee to tea and Hershey's to Cadbury. This is trickier, of course. In April of 2015, we reported that the Rapide sedan would die and that the DBX would be its replacement. But in October, we reported that the Rapide name may live on as an all-electric model. That same April report also claimed we'd see a Lagonda-badged sedan, which now seems like a virtual certainty following the success of the rare Lagonda Taraf. The tea leaves of pillar three – crossovers and "specials" – are the most difficult to read. We know the rakish DBX crossover is coming. But we're wagering that Aston will complement its CUV/SUV lineup with something more traditional that could combat stuff like the Bentley Bentayga. But rather than badging it as an Aston, we think it's more likely this hypothetical vehicle would be badged as a Lagonda. Here's why. The last thing we wrote about a Lagonda SUV came in July 2014, when reports indicated that plans for such a vehicle had been abandoned. But with the explosion in CUVs at virtually every price point, it seems impossible for Aston Martin to ignore the segment. This would give the company a two-pronged approach. We doubt Aston would reestablish the Lagonda brand to just sell a single vehicle. What about the specials, though? That sounds like low volume and high performance to us, which could mean a One-77 successor. Aston has gone on record as saying it'd be open to aerodynamic god Adrian Newey penning a hypercar design. In fact, regarding a Newey-designed Aston, Palmer himself said, "There is rarely smoke without fire." If this were to ever happen, though, we're betting it won't be for some time. The DB11, Vantage/Vanquish replacements, and DBX will be the first new vehicles from the brand, Palmer indicated.