The British manufacturer of retro sportscars replaced Charles Morgan (pictured above) as managing director of the company in March, promoting operations director Steve Morris (not a member of the family) to fill his role as Charles was to focus on expanding the company's global sales reach. But now Charles Morgan has apparently been removed from both the management team and the board of directors.
Whether this indicates a rift in the family or if the shareholders will soon overturn the management shuffle remains to be seen, but Autocar reports that Charles is fighting to regain control of the company his grandfather Henry Frederick Stanley Morgan founded over a century ago. Read the full announcement below.
Further to decisions taken in January of this year, Morgan Technologies is now in a position to announce that Charles Morgan is no longer part of the management team or Board of Directors of the company.
Over recent months, and in response to the growth in volumes, model range and overseas markets, the company structure has been strengthened across a number of different areas. This reflects the scale and complexity of an increasingly global business.
Whilst these are significant developments for the company, the Morgan family, Directors and management team look forward to sharing more news with the wider Morgan community in the near future.
These changes will help cultivate an exciting future for Morgan which continues to reinforce the unique attributes of the brand.
Board of Directors.