Friday, 18 October 2013
Charles Morgan has ‘no role’ in Morgan
Charles Morgan no longer has a role as ‘ambassador’ of UK sports car maker Morgan Motor Company according to news reports.
Morgan, 62, stepped down as managing director of the sports car company seven months ago but retained the title of ‘ambassador’. But the current managing director Steve Morris has said that Morgan has ‘no role at all’.
Speaking at a conference in London this week, Morgan said: “I ought to say a few words of explanation. I have a 30 per cent shareholding. I am also one of the beneficiaries of a trust whose two trustees share 48 per cent of the company.”
Morgan Motor Company was founded in 1910 and run by Henry Morgan until his death aged 77 in 1969. Charles Morgan’s father Peter Morgan took over until he was replaced as chairman by Alan Garnett, a non-family member from 2003 to 2006, Charles Morgan was then part of a four-man management team, becoming managing director in 2010. He has one son and two daughters from a previous marriage. Peter Morgan died just 10 years ago. The rift is understood to be due to a 'family feud'.
Morgan is on course to sell a record 1,200 vehicles this year. The company, based in Malvern, Worcestershire has been through its ups and downs in its history.
Morgan has received much support from employees. He has said he will appeal against the recent decision. He claims to have been removed as part of a restructuring exercise. ■
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