Aston Martin Appoints Geely CEO Daniel Li as Nonexecutive Director
By Ian Walker
Aston Martin Lagonda Global Holdings said Friday that Daniel Li, Geely's nominated shareholder representative, has been appointed as a nonexecutive director of the board as per the agreement between the two in May.
On May 18 the U.K. luxury-car maker said that Geely Automobile Holdings will invest around 234 million pounds ($299.4 million), becoming its third-largest shareholder, and that Geely had the right to appoint a nonexecutive director to the board.
Under the deal Geely bought 42 million Aston Martin shares from the Yew Tree consortium, taking its shareholding in the company to around 17% of its issued share capital.
Li is chief executive officer of Geely Holding Group.
Shares at 0732 GMT were up 8.80 pence, or 2.4%, at 381.0 pence.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 28, 2023 03:55 ET (07:55 GMT)
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