RON DENNIS OUT OF MCLAREN FOR GOOD

Ron Dennis (70) is finally completely out of the McLaren business. The erstwhile chairman of McLaren Automotive will sell his shares in the business and hand over the chairmanship to Shaikh Mohammed bin Essa Al Khalifa. The shareholding sale will result in the McLaren Technology Group merging with its sister company McLaren Automotive, to create the new, simpler McLaren Group. The main shareholders will remain the Bahrain Mumtalakat Holding Company and the TAG Group.

 

Last year McLaren Automotive sold a record 3 286 cars in 2016, up 99% on 2015 figures, and has reported a profit of €7.3 million (around R125 million). It may not sound like much, but for a “small” operation such as McLaren, it is a lot. Its Track22 Business Plan is also on track to continue delivering profits and new models, the latest of which is the 720S. The car has sold out for this year, with 1 500 units ordered.

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