Canadian Billionaire Lawrence Stroll Leads Investment Into Aston Martin
A New Chapter for Aston Martin
According to various sources, Aston Martin ended 2019 in dire straits. Aston was in a tough financial decision. The company’s stock price keeps falling and the company overall is struggling. Now, though, things look a little differently. The company has received around $656 million in emergency funding from investors. Lawrence Stroll led the investment push with a $239 million contribution.
Stroll now has 16.7 percent stake of Aston Martin. The investment from Stroll will put him in the chairman position removing Penny Hughes as Aston Martin’s chairman. Andy Palmer, Aston’s CEO, will likely remain in his position for the time being. According to Autocar, the company will need to slash costs and cut jobs quickly to get everything right.
This has changed future plans for the company. The rumored Rapide and Lagonda are put on hold and the focus for the brand will be on its mid-engine sports cars. The Valkyrie and Valhalla are two that will stay on schedule. The Vanquish will come out shortly after those cars do. Other shake-ups may occur, too. What all Stroll wants to do is not yet known, and it’ll interesting to see what happens in the coming months and throughout 2020.