New Morgan CEO is ex-Lamborghini projects boss; Steve Morris becomes executive chairman
It currently makes around 850 cars annually, 70% of which are exported.
It has 70 official dealers selling in 32 countries but aims to expand production to around 1500 units over the next few years.For many years, successive Morgan managements did fundamentally the same thing: made cars with an endearingly familiar look and specification, trading happily on the market’s well-developed sense of nostalgia and updating the specification now and again when sales needed a boost.
In recent years, this simple life hasn’t been possible, first because the onrush of safety and clean air legislation has brought a regular need for much more fundamental updates; lately and even more urgently because all cars, even Morgans, will soon have to change to hybrid or electric power. The arrival of Massimo Fumarola as Morgan’s new CEO seems to have happened mostly because, as the company faces greater challenges than ever before, Steve Morris’s dual-role workload has simply become infeasibly high.
Anyone who has recently witnessed his high-stress regime would think the same, although it's also likely that Morgan’s Italian owners are also keen to have one of their “own people” at the centre of power.
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