Camilla Jessen
Michael Leiters, CEO of McLaren Automotive, has stepped down with immediate effect, the company confirmed this week.
McLaren Automotive has announced a sudden leadership change, with CEO Michael Leiters stepping down with immediate effect after three years at the helm.
The company has appointed Nick Collins, former CEO of electric vehicle maker Forseven, as his successor.
The leadership transition comes shortly after a major structural shift within the company.
McLaren Automotive officially merged with Forseven earlier this month, forming the new McLaren Group Holdings. The merger follows McLaren’s acquisition by Abu Dhabi-based investment firm CYVN Holdings in December 2023.
Collins brings a strong background in electric mobility, having led Forseven exclusively in the EV sector.
In a statement, Leiters reflected on his tenure:
I have been honoured to have led McLaren Automotive for the past three years. I am grateful to have worked with such a dedicated and talented team of employees. I am proud of what we have achieved together. I am confident that the company is on a strong path to success. I wish everyone involved all the best.
McLaren praised Leiters for his contributions during a pivotal time for the company. His tenure saw the launch of key models such as the hybrid Artura, the 750S supercar, and the extreme W1 hypercar.
Leiters, who previously served as technical director at Ferrari and held senior roles at Porsche, joined McLaren at a time when the company was navigating serious financial challenges. His leadership was seen as instrumental in stabilizing operations and guiding the automaker through a critical restructuring.
Under the new ownership, McLaren-branded vehicles will continue to be produced, while the Forseven name will be phased out. CYVN Holdings’ takeover marked the end of McLaren’s ownership by Bahrain’s Mumtalakat Holding Company.
Founded in 2010, McLaren Automotive is based in Woking, England, and operates independently from the McLaren Formula 1 team.
Despite sharing a location and name, the current McLaren Automotive entity is distinct from McLaren Cars, the company that introduced the iconic F1 supercar in 1992.