[The news is just now breaking about an agreement between the Morgan Motor Company and Charles Morgan. More to come. I’m sure. Mark.]
The long-running employment dispute between management of the Morgan sports car company and its biggest shareholder, Charles Morgan, has been settled, the company announced today.
Charles Morgan is being invited to join a newly formed Family Council which includes existing shareholders and members of the wider Morgan family, including the children of existing shareholders. The aim is to give all members a voice in the future strategy of the Morgan Group.
Charles Morgan, who controls around 25% of the equity of the Malvern-based sports car company, was dismissed after falling out with the rest of the family-owned company’s management.
Chairman Dominic Riley says there will be no change in shareholdings as a result of the latest announcement, in which the company also revealed its best financial results in four years. Riley cites “strong progress” following the launch of new Plus 8 and Aero 8 models, while its recent partnership with Selfridges to launch a new electric three-wheeler “has brought renewed global attention to the Morgan brand”.