Aston Martin is under pressure to shake up its board and bring in directors with more experience at listed companies after a disastrous first year on the stock market.
The luxury car-maker’s shares have plunged 74% since it floated a year ago, hammered by weaker demand, supply-chain problems and a profit warning that exposed its debt-laden balance sheet. Some investors are believed to be keen for an overhaul to bring in more support for chief executive Andy Palmer.
In an interview with The Sunday Times, Palmer, a former Nissan No 2, said it had been a “torrid year”.
“It’s been personally uncomfortable. One year on the FTSE through this [is like] a dog’s year. It’s seven years’ worth of experience.”
The 106-year-old car-maker listed in…