Leiters Steps Down Following McLaren's Merger with Forseven
Deal News | Apr 29, 2025 | EIN
Michael Leiters, CEO of supercar manufacturer McLaren Automotive, has stepped down following the full-scale merger with electric vehicle start-up Forseven. The merger, finalized on April 3, places Nick Collins, former CEO of Forseven, at the helm of the newly formed McLaren Group Holdings. Leiters played a pivotal role in transforming McLaren through financial restructuring and changes in ownership, notably the acquisition by Abu Dhabi's CYVN Holdings in December. Under Leiters, McLaren launched innovations like the hybrid Artura, the 750S supercar, and the W1 hypercar. McLaren Automotive, distinct from its F1 counterpart and established in 2010, continues its legacy from its Woking headquarters, with all future vehicles retaining the McLaren brand. This merger signifies a strategic pivot towards electric vehicles, as the industry faces increasing emissions standards challenges.
Sectors
- Automotive Industry
- Private Equity and Investments
Geography
- United Kingdom – McLaren Automotive is a British supercar manufacturer with its headquarters in Woking, UK.
- United Arab Emirates – CYVN Holdings, which acquired McLaren, is an investment group based in Abu Dhabi, UAE.
Industry
- Automotive Industry – This article concerns the automotive sector, particularly focusing on luxury and electric vehicles. McLaren Automotive's merger with Forseven is a strategic move in this industry.
- Private Equity and Investments – The involvement of CYVN Holdings, an Abu Dhabi investment group, in the acquisition of McLaren and the merger with Forseven falls under the realm of private equity and investment activities.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Michael Leiters | Former CEO | People | Michael Leiters was the CEO of McLaren Automotive, instrumental in its recent strategic shifts. |
| McLaren Automotive | Target Company | Companies | A British luxury sports car manufacturer undergoing strategic realignment and ownership changes. |
| Nick Collins | CEO | People | Former CEO of Forseven, now heading McLaren Group Holdings after the merger. |
| Forseven | Bidding Company | Companies | An all-electric car company merged with McLaren under CYVN Holdings' ownership. |
| CYVN Holdings | Bidding Company | Companies | An investment group based in Abu Dhabi, owner of Forseven and acquirer of McLaren. |
| Mumtalakat Holding Company | Selling Company | Companies | The previous owner of McLaren Automotive before its acquisition by CYVN Holdings. |
| Nissan | Other Company | Companies | Mentioned in context with the automotive industry's adaptation to emissions standards. |
| Ponz Pandikuthira | Other Company | People | Nissan's USA chief product planner discussing future car technologies. |