Boss of iconic British supercar maker steps down after merger with luxury EV brand as it eyes making cheaper motors
The long-expected merger was made official a few weeks ago
CEO GONE Boss of iconic British supercar maker steps down after merger with luxury EV brand as it eyes making cheaper motors
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A MAJOR shakeup has hit a British supercar manufacturer as it's CEO has stepped down just weeks after the company confirmed its full-scale merger with an EV start-up.
Michael Leiters, who took the helm of the iconic McLaren Automotive three years ago, has exited with immediate effect.
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Michael Leiters, CEO of McLaren, is stepping down
Credit: Getty
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Leiters first arrived at the company's headquarters of Woking three years ago
Credit: Getty
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McLaren announced it would be merging with EV brand Forseven on April 3
Credit: Forseven
Leiters will be succeeded by Nick Collins, former CEO of Forseven, who will now lead the newly formed McLaren Group Holdings.
McLaren said Leiters' "contribution and leadership were crucial to the company's transition, including important phases like the recapitalisation and change of ownership".
Leiters said: "I am honoured to have led McLaren Automotive over the past three years.
"I am thankful having worked alongside such a dedicated and talented team.
"I'm proud of what we've achieved together and confident that the business is on a strong path for success.
"I wish all involved the very best in the future.'
Leiters steered the luxury car manufacturer through a critical financial revamp and change in ownership.
McLaren was snapped up in December by Abu Dhabi's investment group CYVN Holdings, which also owns Forseven - an all-electric car company.
The long-expected merger was made official on April 3.
During his time at McLaren, Leiters, a former Ferrari CTO who has also worked at Porsche, oversaw key launches like the hybrid Artura, the 750S supercar and the reveal of the wild W1 hypercar.
British sports car brand to release new flagship model in just weeks - and it'll follow a legendary motor from the 1990s
McLaren Automotive, which is a separate entity from their famous F1 team, was founded in 2010, with its headquarters based in Woking.
Under McLaren and Forseven's full-scale merger, all future cars will continue to wear the McLaren badge, with the Forseven one disappearing.
The supercar manufacturer was previously owned by Bahrain's Mumtalakat Holding Company.
It comes after an iconic sports car that was discontinued earlier this year "will be back without a doubt", the firm's boss has revealed.
Nissan released a heartfelt message for customers and fans of the iconic GT-R announcing its demise in February.
The GT-R R35, affectionately known as Godzilla, was first unveiled at the Tokyo Motor Show in 2007 before being updated many times, most recently in 2023.
Nissan's USA chief product planner, Ponz Pandikuthira, recently told Motor1: "Those big horsepower cars are simply not going to meet emissions standards.
"So it's a matter of where the tech catches up with us. Battery tech, motor tech, and it may take us a few years, but GT-R will be back, without a doubt."
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A McLaren 720S is seen on a production line as Britain's Prince William, Duke of Cambridge tours the factory floor in Woking in 2017
Credit: AFP
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