Aston Martin named Doug Lafferty, a former executive at the Williams Formula One team, as its chief financial officer, replacing Kenneth Gregor.
The automaker said in December that Gregor would step down for personal reasons after 18 months in the role.
Lafferty has been CFO of Vivo Energy, an Africa-based fuel retailer, since last February. Before that, he was CFO at Williams Racing from September 2017 until September 2020. He previously held a range of management positions at British American Tobacco.
Gregor, who had worked at Jaguar Land Rover for more than two decades, was recruited in mid-2020 soon after former Daimler AMG boss Tobias Moers was appointed as CEO to help the more than century-old Aston Martin navigate a slump in sales due the coronavirus outbreak.
In November, Aston Martin, whose shares have tumbled since its 2018 market debut, posted a third-quarter pre-tax loss of 97.9 million pounds ($130.01 million), even as sales doubled to 1,349 cars — driven by demand for its first SUV, the DBX.
Moers’ job could be in jeopardy because of the automaker’s continuing financial woes, according to recent reports. Earlier this month, Aston Martin parted ways with Formula One team CEO Otmar Szafnaur after a disappointing 2021 season.