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CEO of McLaren’s supercar division steps down


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

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

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

“I really feel extremely proud to have led McLaren Automotive by means of most of its first, extremely profitable decade and am privileged to have performed an element within the unimaginable 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 enterprise for many years. McLaren additionally outsells Lamborghini in terms of supercar gross sales.

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

McLaren Automotive has additionally struggled way more than rivals in coping with the pandemic. Up to now 12 months, the corporate has needed to shed staff, and its McLaren Group dad or mum has needed to sell and lease back its headquarters, promote a stake in its Formula One team, and promote its McLaren Applied technology business. The corporate additionally wanted further funding from predominant shareholder Bahrain and new shareholder Saudi Arabia.



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