McLaren appoints three industry vets to board

28th May 2024 10:58

(Sharecast News) - F1, motorsports and supercar maker McLaren Group has appointed three new boardmembers in recent weeks, just two months after the sovereign wealth fund of Bahrain took full ownership of the manufacturer.

Torsten Muller-Otvos, who served as chief executive of Rolls-Royce Motor Cars up until November 2023, has joined the company as a non-executive director, according to Sky News.

Via filings at Companies House, McLaren also appointed Tory Burch's CEO Pierre-Yves Roussel and former Volvo Cars veteran Dennis Nobelius to the board.

In March, the Bahrain Mumtalakat Holding Company became the only shareholder of the company after McLaren's shareholders approved a full recapitalisation of the group, which was hoped to simplify its share structure and kickstart expansion into new markets.

The simplified structure is thought to enable McLaren to partner with an automotive tech manufacturer as the company expands into the electric vehicle market - though it was reported that any partnership could involve the sale of a minority stake.