9:11 am, October 31, 2013
CHARLES Morgan has lost his appeal against the decision to oust him from the Morgan Motor Company.
Morgan has effectively been dismissed from the British sports car company, although he does remain a shareholder.
In a statement Charles Morgan said: ‘It is incredibly disappointing news. My family and I remain very grateful for the expressions of support received from Morgan fans, workers and the public since this process began.
‘I have been dismissed on what I believe are very contentious grounds. Over the last 12 months, it was made increasingly clear that my philosophy to modernise Morgan did not fit with the philosophy of the current management.’
According to documents seen by Autocar, Morgan was sacked on four counts of misconduct – one of which included posing as chairman despite being demoted to strategy director.
‘Morgan’s future cannot rely on its heritage alone,’ continued Morgan in a statement. ‘As such, I endeavoured to introduce our unique brand to new markets such as China; to take Morgan racing again; and to engage the passion of a new generation using social media, and by doing interesting things such as the Gumball Rally in a 3 Wheeler.
‘The aim was to give Morgan a bright future as an independent company.
‘Nonetheless, I look upon my business record with pride – volumes doubled during my tenure and profits for the first six months of the year had increased dramatically to £1.2m.’
He concluded: ‘I remain a major shareholder in the Morgan Motor Co and am concerned for its future. I will take time to consider my next actions and potentially explore other opportunities available to me.’
