Morgan Motor Company announced on Tuesday that Charles Morgan "is no longer part of the management team or Board of Directors" of the sports car maker.
Mr Morgan tweeted his 7,300 followers that Tuesday had been a “sad strange day,” that he was thinking of the workforce at Pickerleigh Road and thanked fans for their words of support.
The iconic sports car company’s board of directors said the decision reflects the “scale and complexity of an increasingly global business.” Morgan has grown fast in the last five years, from £25 million in 2008/2009 to c. £45m turnover and appears to have the ambition to grow much further.
The company added “Whilst these are significant developments for the company, the Morgan family, directors and management team look forward to sharing more news with the wider Morgan community in the near future.” Some in the car industry will feel this is a natural order of things for a company with global ambitions and that Mr Morgan is a victim of his firm’s own success.
Earlier in 2013, Charles Morgan was removed from his position as managing director following a vote by shareholders and the managing board.
Mr Morgan had been the managing director of the company that makes the Plus 8, Aero, AeroMax and other two-seater sports cars since 2003. Before joining the family business in 1985, he worked as a television cameraman for ITN. He is the grandson of the company’s founder HFS Morgan.
A maverick businessman, Mr Morgan is widely credited by the motor industry for spearheading Morgan’s growth into new markets and for personally influencing many of the new model designs of the last 10-years.
