MORGAN FAMILY FEUD RESOLVED
The four year dispute between Charles Morgan and his family firm, the Morgan Car Company, has come to an end. An announcement by Morgan Technologies on Monday, February 20 revealed that Charles Morgan would soon rejoin a new Family Council, following his ‘successful settlement of.. [a] long-running employment dispute.’
It added: ‘He [Charles Morgan] will be invited to [the Family Council] as a member, as well as retaining his shareholding. While there will be no change in the family shareholders, the Family Council will ensure that the wider Morgan family, including children of the current shareholders, have a voice in the future strategy of the Morgan group.’
Charles Morgan, grandson of Peter Morgan, owns between 20 and 25 per cent of Morgan’s equity – and remains, according to Autocar, its largest single shareholder. Having joined the family firm in 1985, he was the last direct descendent of Henry Frederick Stanley Morgan (HFS) Morgan to run the company. Following a row with the company board (composed mainly of Morgan family descendents), he was dismissed from his role as strategy director in October 2013.
Speculation was rife as to the exact reason for Charles’ termination; in a statement released at the time, he argued that “Morgan’s future cannot rely on its heritage alone... it was made increasingly clear that my philosophy to modernise Morgan did not fit with the philosophy of the current management.” A year later he tried to regain control of Morgan with investors to buy his siblings out of their shares, and seriously considered producing his own Morgan cars independent of the Morgan Motor Company.