June 22, 2020 / 7:30 AM / 19 days ago

Aston Martin taps ex-Jaguar Land Rover CFO Kenneth Gregor as finance head

FILE PHOTO: A logo on the new Aston Martin DBX at the new Aston Martin Lagonda factory in Barry, Wales, Britain February 21, 2020. REUTERS/Rebecca Naden/Pool/File photo

(Reuters) - British luxury carmaker Aston Martin on Monday named Kenneth Gregor, who was the former financial chief at Jaguar Land Rover, as its new chief financial officer, looking to tap experienced management to help revive the 107-year-old firm’s fortunes.

Gregor, 53, will be tasked with helping with the turnaround of the company, which is cutting jobs and sports car production as it grapples with a deep first-quarter loss on a slump in sales due to the coronavirus outbreak.

Gregor, who has over 20 years of automotive experience, takes over from interim CFO Viki Bhatia. His appointment comes nearly a month after the company confirmed that Tobias Moers, chief executive officer of Mercedes-AMG, would become its CEO on Aug. 1.

“He is a seasoned financial professional ... he supported the successful execution of its (JLR’s) growth plans, through product expansion, with robust financial planning and capital allocation policies,” Chairman Lawrence Stroll said.

Aston Martin, famed for being fictional secret agent James Bond’s car of choice, has seen its share price plummet since floating in October 2018, from 19 pounds ($23.57) to around 70 pence.

Bhatia had replaced Mark Wilson, who stepped down as CFO after five years in the role earlier this year.

($1 = 0.8063 pounds)

Reporting by Tanishaa Nadkar in Bengaluru, Editing by Sherry Jacob-Phillips and Anil D'Silva

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