Morgan has appointed its chief technical officer, Matthew Hole, as managing director, to replace its CEO of the past three years, Massimo Fumarola, who is leaving “for personal reasons”.
Hole joined Morgan three years ago to help the British sports car maker apply latest technology and new engineering techniques to its existing and future models.
He has since worked closely with both Fumarola and Jonathan Wells, Morgan’s chief design officer, on projects like the launch of the Super 3, revisions to the Plus sports car range and the new Midsummer, which involved a ground-breaking collaboration with legendary Italian design house Pininfarina.
The first two of a batch of 50 Midsummers were officially completed last week and are expected to reach their owners before the end of the month. The remaining cars will be built between now and mid-2025.
Hole said he plans to continue Morgan's strategy of international growth, supported by “an exciting strategic product development plan”.
The firm's management team is understood to have been delighted with customers’ reaction to the Midsummer project and plans more limited-run special models.
Waiting in the wings is Wells' concept for a “classic coupé”, designed to bring Morgan styling forward from the vintage era into what the design boss calls “the jet age”. The project has existed for some time, but no date has yet been set for its appearance. Success for the Midsummer could bring it closer to fruition.
Morgan believes the imminent launch of a US-compliant Plus Four, which has been developed at the Malvern Link factory over the past year, will greatly widen the company’s market and help meet pent-up Transatlantic demand for Morgan cars. They were previously sold in the US and continue to have a surprisingly large following there.
“Morgan has a rich and successful heritage, and we have proved countless times that the brand can adapt while continuing to offer hand-crafted sports cars that are loved by our global customers,” said Hole.
“My goal is to make sure Morgan’s future is even more illustrious than its past, and I know every single one of our employees has the talent and ambition to make that happen.”
Hole paid tribute to his much-experienced predecessor, saying his “passionate and expert leadership has greatly benefited the company”.
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