The chairman and chief executive of luxury car maker Bentley has left to take over at rival Aston Martin.
Adrian Hallmark is expected to take on his new position as Aston Martin’s new chief executive later this year.
Mr Hallmark took on the two roles of chairman and CEO at Crewe-headquartered Bentley in February 2018, having previously held senior jobs at Jaguar Land Rover.
He has also been managing director of Porsche Cars GB and executive vice president of Volkswagen of America.
Bentley said that a successor to Mr Hallmark will be announced “in due course”.
Aston Martin has been run by CEO Amedeo Felisa since 2022 under executive chairman Lawrence Stroll.
Mr Hallmark said: “Bentley has had a great influence on me. To redefine luxury mobility for the future with such a strong brand is a task that I took on with full commitment and great pleasure.
“The time has now come for me to turn to new challenges. I would like to express warm thanks to the entire Bentley team for all that we have achieved together in the last few years.”
On joining Aston Martin, he added: “”Like many working within the ultra-luxury segment, I have admired the continued transformation of Aston Martin’s brand and products from afar and feel honoured to have the opportunity to work with Lawrence, the board and the company’s employees to lead its next chapter.
“The transformation of Aston Martin is one of the most exciting projects within the ultra-luxury automotive industry.
“I am looking forward to continuing the company’s great momentum and utilising my experience and passion to further unleash this iconic brand’s potential and take it to even greater success.”
Gernot Döllner, chairman of the executive board of Audi and responsible for the Progressive Brand Group, which includes Lamborghini, Bentley and Ducati, within the Volkswagen Group, added: “Adrian Hallmark has achieved a great deal at Bentley.
“In his six years as chairman and CEO, he has made his mark on Bentley Motors, and along with his team in Crewe has successfully pushed ahead the development of the company.
“On the path to carbon-neutral electric vehicles in the luxury segment, he has taken important steps towards the long-term success of the company.
“I would like to thank Adrian Hallmark for his significant commitment over the last years and wish him well in his personal and professional future.”
Bentley has been part of Volkswagen AG since 1998 and of the Audi Group since January 2022.
The announcement of Mr Hallmark’s departure comes after Bentley’s profit fell last year as a slowdown in the global economy impacted the luxury car market.
The business reported a 17 per cent decrease in operating profit to €589m (£502.9m). Revenue also dipped around 13 per cent to €2.9bn (£2.4bn).
Some 13,560 of the company’s stately vehicles were delivered in 2023, 11 per cent lower than the prior year but still marking the third-highest total in its history.
Last month, Aston Martin revealed its losses more than halved in its full-year results, despite a hit to wholesale volumes after production issues with the roll-out of its DB12 model in November.
Pre-tax losses came in at £239.8m, down 52 per cent from £495m in 2022, while adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 61 per cent to £305.9m.
Adjusted pre-tax losses were reported at £171.8m, down from £451m and smaller than analysts had forecast.
Lawrence Stroll, executive chairman of Aston Martin, said: “When Amedeo was appointed CEO, I spoke of him leading a new phase of growth and development.
“Two years on, we have delivered on that promise, as we near completion of our thrilling new product portfolio and move closer to our vision of becoming the world’s most desirable, ultra-luxury British performance brand.
“I’d like to personally pay tribute to Amedeo, recognising not just what he has achieved at Aston Martin but throughout his long and distinguished career at the very top of the ultra-luxury automotive industry
” I am pleased that Amedeo will remain in post until Adrian joins and will continue to oversee the launch of our upcoming products, with our breathtaking line-up of new front engine sports cars a fitting legacy to his time leading the company and its product strategy.
“We look forward to celebrating Amedeo’s contribution to Aston Martin’s recent success before wishing him the very best.
“In Adrian Hallmark, we are attracting one of the highest calibre leaders not just in our segment, but in the entire global automotive industry.
“Complementing our world-class leadership, Adrian will bring to Aston Martin unrivalled experience in both the ultra-luxury and British manufacturing sectors to progress our strategy and continue recent momentum.”
On leaving Aston Martin, Amedeo Felisa said: “It has been a great privilege to serve as Aston Martin’s chief executive officer, leading our iconic brand through this exciting era.
“I am incredibly proud of the progress made over the last two years, which has aligned Aston Martin for a positive future direction. I believe now is the right time to allow the company to transition to new leadership.
“I’d like to thank Lawrence and the Board for their strong support throughout my time as CEO, and colleagues who’ve worked incredibly hard in recent years to deliver on our vision for Aston Martin and execute on our award-winning new product strategy.
“I am looking forward to delivering our upcoming new products before handing over to Adrian, who is a fantastic appointment for Aston Martin with a wealth of first-class experience.”