After Just Three Years, McLaren Has Another New CEO
Abu Dhabi-controlled investment firm CYVN Holdings, new owners of McLaren, aren't wasting time finding someone new to run the business.
McLaren has a new CEO. The company announced Tuesday that Nick Collins will replace former CEO Michael Leiters, effective immediately. Leiters, who previously worked as an executive at Ferrari and Porsche, has held the position since 2022.
Collins comes to McLaren from Forseven, a vehicle startup controlled by CYVN, the Abu Dhabi-controlled investment firm that purchased McLaren Automotive and a non-controlling stake in McLaren Racing in December. Prior to his CEO role at Forseven, Collins spent nine years at Jaguar-Land Rover, and before that, over 20 years at Ford of Europe.
Nick Collins, the new CEO of McLaren
"I am honored to have led McLaren Automotive over the past three years," Leiters said in a statement. "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 joined McLaren "during a particularly challenging period," according to McLaren. Coming off the heels of the COVID-19 pandemic, the German-born engineer was responsible for bringing the company back to profitability. He oversaw the launch of the 750S, the Artura, the Solus GT, and the W1.
"We thank Michael for his leadership and tremendous contributions made during a pivotal time for McLaren Automotive," Collins said in a statement. "I wish him well in his personal and professional future."
Since CYVN's purchase in December, a change in leadership was expected. The investment firm plans to inject new capital (aka, lots of cash) into the business, and add "new product categories," according to an announcement in April. That means we'll likely see a McLaren SUV and even a sedan sometime in the future.
CYVN said last month its strategy will include expanding into "high-performance and luxury sectors, setting a new benchmark for excellence, and transforming McLaren into a high-performing British automotive business on the global stage."
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