Latest news with #MichaelLeiters
Yahoo
05-05-2025
- Automotive
- Yahoo
McLaren Has A New CEO
Read the full story on The Auto Wire Things are changing at McLaren with new owners CYVN Holdings in charge, with a new CEO at the helm of the storied British automaker. Nick Collins is the new chief executive, coming from Forseven, a luxury British automotive startup that's also owned by isn't an unknown quantity. The man worked for Jaguar Land Rover for nine years, three of them serving as head of vehicle programs. Before his tenure with JLR, he was with Ford Europe for over 20 years. In other words, the man has been involved in the auto industry his entire professional life. Hopefully, that means he has a passion for high-performance vehicles and prioritizes that with McLaren. McLaren's former CEO, Michael Leiters, was put into his position in July 2022. He was formerly an executive with Porsche and Ferrari, so the man came with an impressive set of qualifications. While people have opinions about what he did at the head of the company, the man dealt with some big financial problems while helping launch the 750S, Solus GT, and Artura lines into the market. The British brand suffered considerably during the Covid period, unlike competitors such as Ferrari and Lamborghini. McLaren had to sell off assets and make other painful changes just to keep the lights on. In addition, McLaren has struggled to keep up with the push to electrification which was sweeping through the industry but now has a questionable future. Collins will need to navigate the rapidly changing landscape in the industry, so the man has his work cut out for him. It will be interesting to see what direction McLaren goes at this point. We likely won't see the effects of the leadership change on future models for at least a couple of years. Image via McLaren Join our Newsletter, subscribe to our YouTube page, and follow us on Facebook.
Scottish Sun
29-04-2025
- Automotive
- Scottish Sun
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 Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) 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. 4 Michael Leiters, CEO of McLaren, is stepping down Credit: Getty 4 Leiters first arrived at the company's headquarters of Woking three years ago Credit: Getty 4 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." 4 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
The Sun
29-04-2025
- Automotive
- The Sun
Boss of iconic British supercar maker steps down after merger with luxury EV brand as it eyes making cheaper motors
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. 4 4 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. 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." 4 McLaren's history McLaren was founded in 1963 by New Zealander Bruce McLaren as a racing team. The team entered Formula 1 in 1966 and became one of the sport's most successful names. McLaren won its first F1 World Championship in 1974 with driver Emerson Fittipaldi. It dominated F1 in the 1980s and 1990s with stars like Ayrton Senna and Alain Prost. In 1992, McLaren launched its first road car, the McLaren F1, a record-breaking supercar. After years partnering with Mercedes, McLaren began building its own engines and cars. McLaren Automotive was officially launched as a separate road car company in 2010. Its first modern supercar, the MP4-12C, debuted in 2011. In 2022, McLaren launched the Artura, its first series-production hybrid. In 2025, it merged with EV start-up Forseven as part of a shift toward electric vehicles.
The Irish Sun
29-04-2025
- Automotive
- The Irish Sun
Boss of iconic British supercar maker steps down after merger with luxury EV brand as it eyes making cheaper motors
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 4 Michael Leiters, CEO of McLaren, is stepping down Credit: Getty 4 Leiters first arrived at the company's headquarters of Woking three years ago Credit: Getty 4 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. Read more on motors "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 Most read in Motors 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 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 Nissan released a heartfelt message for customers and fans of the iconic GT-R 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." 4 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 McLaren's history McLaren was founded in 1963 by New Zealander Bruce McLaren as a racing team. The team entered Formula 1 in 1966 and became one of the sport's most successful names. McLaren won its first F1 World Championship in 1974 with driver Emerson Fittipaldi. It dominated F1 in the 1980s and 1990s with stars like Ayrton Senna and Alain Prost. In 1992, McLaren launched its first road car, the McLaren F1, a record-breaking supercar. After years partnering with Mercedes, McLaren began building its own engines and cars. McLaren Automotive was officially launched as a separate road car company in 2010. Its first modern supercar, the MP4-12C, debuted in 2011. In 2022, McLaren launched the Artura, its first series-production hybrid. In 2025, it merged with EV start-up Forseven as part of a shift toward electric vehicles.
Yahoo
14-03-2025
- Automotive
- Yahoo
McLaren Is Reconsidering An SUV In An Attempt To Actually Make Money
McLaren has had a real "will they or won't they" relationship with the idea of building an SUV, constantly going from "it'll be here in a few years" to "we're a sports car company, dammit, we can't make an SUV." Well, it seems the latter has won out as the British-turned-Emirati-owned company looks for new ways to actually make money. It's part of a turnaround plan to get the struggling automaker back on track after it was purchased by Abu Dhabi's CYVN Holdings in December of 2024. It will merge the company with its UK-based EV startup called Forseven Holdings, according to Bloomberg. The idea is to leverage McLaren's brand recognition and history for a new lineup of vehicles. Don't worry though, its brilliant supercars aren't going anywhere. While other automakers like Porsche, Ferrari, Aston Martin and Lamborghini have embraced SUVs to supplement their sports car lineup, McLaren has been extremely hesitant to do so. Back in 2018, the company's former CEO said the automaker would never build an SUV because there were already "more than enough." Well, the tune of the company has changed since its new owners decided it should probably make money. Read more: Porsche Taycan Turbos Have Lost Up To $100,000 Value In 4 Years Right now, not too much is known about Forseven or the upcoming SUV. It does seem to have some sort of tech tie-up with Chinese EV maker Nio, including the fact CYVN has a stake in the company. Still, it's not clear what a McLaren SUV might look like, or what'll power it. We've previously talked about it possibly being an electric vehicle, but--with the state of the world right now--who the hell knows? The 750S' 4.0-liter twin-turbocharged V8 would certainly be a hoot in any application, even a large-ish SUV. CYVN has its work cut out for it if it wants to reverse years of losses at McLaren, a company that has been very good at making cars (if you don't count reliability) but not at making money. Over the past few years, McLaren has had to ask shareholders for more money on multiple occasions, according to Bloomberg, most recently because of delays to its "entry-level" Artura supercar. It was also forced to sell off some of its heritage car collection, offloaded its advanced technologies arm, and completed a sale and leaseback of its headquarters in Woking, England. When McLaren and Forseven do officially merge, former Jaguar Land Rover executive Nick Collins will lead the company, according to Bloomberg. McLaren's current CEO Michael Leiters will remain as the head of the brand. Some people will, of course, cry sacrilege at the idea of a McLaren SUV, but I really don't think it'll be a big deal. Porsche, Lamborghini and Ferrari are already doing this exact thing, and the reality of the situation is that McLaren is in an extremely tough spot right now, financially. If an SUV can help remedy that situation, so it can continue to make brilliant supercars, I'm all for it. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
