Stroll gets an even bigger stake in Aston Martin
F1 News
- GPblog.com
The Stroll family has been a major player in Formula 1 for a few years now and, since this year, also a bit in the car industry. Lawrence Stroll bought a substantial stake in the British car brand last year and his influence is only growing there now.
This is because investors from Kuwait are now slowly withdrawing, Bloomberg reports. Adeem/Primewagon was once the largest shareholder in Aston Martin, but recently reduced that share to under seven per cent. This prompted their representative on the Aston Martin board, Amr Ali Abdallah Abou El Seoud, to resign.
Stroll and Daimler seize power
Several changes have already taken place on the Aston Martin Board over the past month. In January, three members were replaced by five new Stroll-backed directors and last November Adeem also gave up a seat on the board.
This brings the 'Arab era' of Aston Martin to an end. Adeem bought Aston Martin from Ford in 2007. However, in 2018 the company ran into trouble after their IPO and it was Stroll who managed to save the manufacturer with support from Daimler. Those two parties are now trying to make Aston Martin a success again.