Michael Leiters Steps Down as McLaren Automotive Boss Amid Merger with Forseven
Deal News | Apr 30, 2025 | EIN
Michael Leiters has stepped down as the head of McLaren Automotive due to major structural changes within the company. This shift coincides with the merger of McLaren Automotive and automotive startup Forseven into the newly formed McLaren Group Holdings. This merger was driven by CYVN Holdings, an Abu Dhabi-based investment firm, which acquired McLaren Automotive and a non-controlling stake in McLaren Racing. These changes are expected to significantly influence McLaren's future product portfolio, integrating Forseven's technology. Leiters, who previously was the technical chief at Ferrari, discussed his achievements and expressed confidence in McLaren's future path under the new leadership of Nick Collins. Collins, who was the CEO of Forseven before the merger, will now manage the Automotive division alongside his group-level responsibilities. The merger highlights a new strategic direction for McLaren amid significant organizational change.
Sectors
- Automotive
- Private Equity
Geography
- United Kingdom – McLaren Automotive, headquartered in the UK, is a central entity in this merger and leadership transition.
- United Arab Emirates – CYVN Holdings, the investment company facilitating the merger, is based in Abu Dhabi, UAE.
Industry
- Automotive – The article focuses on the merger of McLaren Automotive, a key player in the automotive industry, with Forseven, highlighting changes in leadership and strategic direction.
- Private Equity – Involvement of CYVN Holdings, an investment company, indicates the influence of private equity in the transaction and strategic restructuring of McLaren.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Michael Leiters | Former CEO of McLaren Automotive | People | Led McLaren Automotive during major projects and the merger with Forseven. |
| McLaren Automotive | Target company | Company | A British automaker known for high-performance sports cars, now merging with Forseven. |
| Forseven | Merging company | Company | An automotive start-up now part of the new McLaren Group Holdings. |
| CYVN Holdings | Acquiring firm | Company | An Abu Dhabi-based investment company that acquired McLaren Automotive. |
| Nick Collins | New CEO of McLaren Group Holdings | People | Previously CEO of Forseven, now leads the new McLaren Group Holdings. |