UK body rebukes Aston Martin for its all-male board
An influential body representing the UK asset management industry issued a rebuke to Aston Martin Lagonda Global Holdings Plc after the luxury automaker lost all its female directors, a person with knowledge of the matter said.
The London-based Investment Association put out a so-called red top report on Aston Martin ahead of its annual general meeting Wednesday, according to the person. The report criticises Aston Martin for its all-male board and cites a lack of diversity on its executive committee, the person said, asking not to be identified because the information is private.
Aston Martin’s three female directors all left the board in recent months. Canadian billionaire Lawrence Stroll became executive chairman in April, replacing Penny Hughes, after leading a bailout of the sports-car manufacturer. The other women on the board, Imelda Walsh and Tensie Whelan, previously said they wouldn’t stand for re-election and formally stepped down May 23.
The Investment Association’s members manage more than £7.7 trillion of assets, according to its website. The body issues such reports through its research arm, the Institutional Voting Information Service.
An Aston Martin spokesperson said “this is a particular focus for Mr. Stroll as incoming executive chair and his priority is to ensure the right balance of skills and experience to support the company in delivering its longterm potential.” The firm was recruiting additional independent non-executive directors, said the spokesperson