Thursday 14th March 2013

Fisker resigns & Morgan 'doesn't change role'

Low-volume manufacturers' CEOs indulge in some chopping and changing

---

There’s controversy afoot today with the news that Henrik Fisker has resigned completely from the company that bears his name. Fisker, founder of Fisker Automotive, cited “several major disagreements”  with Fisker’s board of directors on the future strategy of the business, but would give no further details on the nature of those disagreements.

Fisker was the man behind the Karma

The news is the latest in a long line of troubles to hit the pioneering car maker. Last year, it was reported that Fisker’s battery supplier, A123 Systems, was bankrupted, which halted battery production and, consequently, the Fisker production line. Fisker is also facing cashflow issues after Department of Energy loans were cancelled when Fisker didn’t manage to meet the production figures they were conditional upon. The company’s only model to make production so far, the Karma, has also been hit by a string of battery-related fires that led to a recall of 239 cars being issued at the end of last year. Whether these difficulties are related to Fisker's departure is as-yet unknown; neverthess, in a statement, the company said that "Mr Fisker's departure is not expected to impact the company's pursuit of strategic partnerships and financing to support Fisker Automotive's continued progress as a pioneer of low-emission hybrid electric powertrain technology."

Morgan's role 'will not change', says company

Fisker isn’t the only low-volume CEO to be moving around, though. Autocar is this morning reporting that Charles Morgan has been replaced as managing director of his own company by former operations director Steve Morris. The decision was apparently made by board members and shareholders, though Morgan insists that the change was amicable and not driven by a lack of satisfaction with Charles Morgan’s performance. A statement from the company says that “Charles Morgan will concentrate on his vital role as the face of Morgan internationally, promoting the brand and selling the company’s products worldwide.” However, when we asked the company for a comment, a spokesperson told us that there’d be no change of role for Morgan, and that Morris had “simply become the MD”.

[Sources: Autocar]

[Ex Boy Racer]

Is Fisker the long-lost brother of Paul McCartney?

[RTH]

Just got someone in at Malvern to open the post.

[Beefmeister]

No surprise in either really. Fisker is floundering badly and Henrik just wanted out.

Charles Morgan is Morgan - he's the public face and is all over the world promoting the brand etc so he probably doesn't have time to do anything else. Plus with their resurgence in sales they can now afford to promote the guy who was previously doing the MDs job without the pay...

[em177]

Ex Boy Racer said:

Is Fisker the long-lost brother of Paul McCartney?

[FourWheelDrift]

Ex Boy Racer said:

Is Fisker the long-lost brother of Paul McCartney?

They do look quite similar



(Waits for anyone to get the reference)

[traffman]

Im surprised considering Justin Bileber has enjoyed fisking for many years now.

[365daytonafan]

Beefmeister said:

No surprise in either really. Fisker is floundering badly and Henrik just wanted out.

Charles Morgan is Morgan - he's the public face and is all over the world promoting the brand etc so he probably doesn't have time to do anything else. Plus with their resurgence in sales they can now afford to promote the guy who was previously doing the MDs job without the pay...

Charles Morgan Tweeted that he is very much in charge and this is purely an organisational reshuffle to allow him to concentrate more on promoting the company but leaving the day to day stuff to someone better suited. I thought Autocar's report put a particularly dark spin on what happened.

[LordFlathead]

I thought the same. Surely a motoring rag would want to help promote small manufacturers rather than gossip? After all it's an industry that their business model relies on.

[EDLT]

Autocar ran out of things to photoshop so started on news items instead?

[Frimley111R]

EDLT said:

Autocar ran out of things to photoshop so started on news items instead?

[MonkeySpanker]

FourWheelDrift said:

They do look quite similar



(Waits for anyone to get the reference)

Just let it be

[Captain Muppet]

LordFlathead said:

I thought the same. Surely a motoring rag would want to help promote small manufacturers rather than gossip? After all it's an industry that their business model relies on.

No, they want to sell avertising based on high circulation.

[dandarez]

EDLT said:

Autocar ran out of things to photoshop so started on news items instead?

[pagani1]

Morgan's decision is because of success, Fisker's is a sign of failure.
Always have 2 component suppliers especially for batteries (wise after the event).
Autocar-wasn't that a magazine once? I know it swallowed Motor which was a superior weekly mag but IMHO weeklies days are numbered. You need to be a superb monthly-arise Sir Evo, Octane or Car, or a shopper i.e. What Car etc etc. Sadly Motorsport isn't as popular as the past, Top Gear doesn't float my boat, and then there are the one make specialists Porsche BMW etc.
Try EVO or Octane on iPAD, both are brilliant and getting better. Now can I have a job Mr Metcalfe?

[pagani1]

I didn't appreciate the scammmy readers survey pop up today trying to rope you in at £4-50 a text message guys. What has Pistonheads done-Sold Out?

[Evo]

Let's just accept that the green car hasn't worked and we can go back to proper cars with big engines instead

[Garlick]

pagani1 said:

I didn't appreciate the scammmy readers survey pop up today trying to rope you in at £4-50 a text message guys. What has Pistonheads done-Sold Out?

Not that we know of, sounds like a rogue ad has slipped in.

Didn't catch the company name did you?

[mybrainhurts]

Imminent demise of electric car...

Oh dear, what a bloody shame...

[IDrinkPetrol]

Fisker starting to smell a bit De Lorean....

[Gorbyrev]

Bad Karma!