McLaren Automotive CEO Flewitt to step down

McLaren Automotive CEO Mike Flewitt has stepped step down after eight years at the helm of the supercar manufacturer.

Flewitt joined McLaren as chief operating officer in June 2012 and was appointed CEO in July 2013.

Following the Briton's unexpected resignation, McLaren has initiated a search for a successor.

In the interim, McLaren Group non-executive director Michael Macht will oversee technical and operational functions, while Chairman Paul Walsh will lead sales, marketing and public relations.

"I feel incredibly proud to have led McLaren Automotive through most of its first, highly-successful decade and am privileged to have played a part in the incredible McLaren story," said Flewitt

"This young company’s success is testament to the many passionate and talented people I have had the pleasure of working with and I look forward to seeing that success continue."

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Flewitt, who presided over a troubled period endured by the McLaren Group, marked by dwindling sales following the onslaught of the global pandemic in 2020.

McLaren, which is controlled by Bahrain sovereign fund Mumtalakat, has undergone in the past year a significant financial restructuring that included the $236 million sale and lease-back of its iconic Woking headquarters.

In July, the group raise $755 million from existing investors and new backers Ares Management Corp. and Saudi Arabia’s Public Investment Fund. It also raised $620 million from a bond issue.

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