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Aston Martin Lagonda

Aston Martin Lagonda announce Board and Committee changes

Aston Martin Lagonda (LON:AML) announced today the following Board and Committee changes, with immediate effect.  These changes relate to the shareholder representative directors and reflect the commitments given by the Adeem/Primewagon controlling shareholder group and the Investindustrial controlling shareholder group in their respective Relationship Agreements with the Company.

·      Mr Najeeb Al Humaidhi, the Representative of the Adeem/Primewagon controlling shareholder group, has nominated Mr Amr AbouelSeoud and Mr Mahmoud Samy Mohamed Aly El Sayed as their two continuing Adeem/Primewagon Non-Executive Directors. Mr Mahmoud Samy Mohamed Aly El Sayed has been appointed as the Adeem/Primewagon representative director on the Nomination Committee.  

·      As provided in the Relationship Agreements, Mr Peter Rogers and Mr Mahmoud Samy will now serve as observers on the Audit and Risk Committee with no voting rights.  They will remain on the Board as Non-Executive Directors.

·      As provided in the Relationship Agreements, Mr Dante Razzano and Mr Amr AbouelSeoud will now serve as observers on the Remuneration Committee with no voting rights. They will remain on the Board as Non-Executive Directors.

Following the above changes, the Company is now compliant with the UK Corporate Governance Code in relation to the composition of its Audit and Risk and Remuneration Committees.  To achieve Board Code compliance, we are in discussion with independent non-executive director candidates and expect to announce the outcome shortly.

Aston Martin thanks Messrs. Najeeb Al Humaidhi and Saoud Al Humaidhi for their service as directors in its first year since IPO and thanks them for their long-standing and continuing support as shareholders.