Aston Martin to add FTSE executives to its board
The UK-based luxury automaker, Aston Martin, has announced it will be adding Financial Times Stock Exchange (FTSE) executives to its board.
The decision prepares for the company’s intentions to launch an initial public offering (IPO) and list on the London Stock Exchange.
Aston Martin has appointed Penny Hughes, who has previously worked for FTSE-listed Vodafone and WM Morrison, as the first Non-Executive Chair of its board.
Richard Solomons, previous CEO of InterContinental Hotels, has been appointed by the firm as its Senior Independent Director as well as Chair of the Audit and Risk Committee.
“The independent directors will bring significant experience to the Board as we prepare to float and deliver fully on our business plan commitments,” remarked the CEO of Aston Martin, Andy Palmer.
The company has also recruited Imelda Walsh and Peter Espenhahn, former Chair of the Remuneration Committee at First Group and previous Director at Deloitte respectively.
Aston Martin will be the first British auto manufacturer to seek an IPO in decades, Reuters reported.
The firm will reportedly release further information regarding the IPO, such as how many shares will be sold, in its prospectus – which is anticipated to be published on 20 September.
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