Press Release 14th October 2013

Morgan Technologies Ltd.

Further to the decisions taken in January of this year, Morgan Technologies would like to announce that Charles Morgan is no longer part of the management team or Board of Directors of the company. Over recent months, and in response to the growth in volumes, model range and overseas markets, the management team has been strengthened across a number of different areas, reflecting the scale and complexity of an increasingly global business. Whilst these are significant developments for the company, setting it up to compete in an increasingly demanding global market, the family owners, Directors and team at the company look forward to sharing more news with the wider Morgan world that we believe creates an ever more exciting future whilst remaining conscious of the unique attributes of the Morgan brand.

Board of Directors

I have to say that whilst I understand (I think!) the reasoning behind all this, I really do think it is a sad day for Morgan. Is there any information regarding what if anything, Charles has an involvement in? Or has he stepped away completely?

As I said in a previous post, he was the charismatic face of Morgan and whilst I think highly of Steve Morris and Tim Whitworth with their undoubted business abilities, they just do not have that charisma. I really do hope that Charles will retain some involvement in what was the family firm.....and whilst there is family ownership, I do wonder how long that will remain.

I agree fully with Jay's sentiment here....

+1

TaTa Morgan?

I agree fully with Jay's sentiment here.... [/quote]

Me to - it feels like a sad day when that direct family connection is broken - hope I am completely wrong of course. Perhaps some significant change might be on the way, and the press release seems a tad "unfriendly" in it's wording and almost dismissive of his contribution to the company since taking over from his father. Once again, I would be delighted if I am misreading this....

I wish him and his family well.

Regards,

John

No way. The company is still owned by the family trust. Obviously the majority of the trustees considered a different management policy was in their interest.

I have to say that my feeling is that the staff are completely behind Steve Morris and you can feel a change in attitude towards more attention to customer concerns.

I am sorry to hear that Charles has decided to withdraw from the management team as I see him as being an excellent promoter of Morgan products but at the same time I welcome the apparent fresh breeze of enthusiasm that seems to be running through the factory.

PS. They really do need someone to work on their press releases. Both this and the release about the comfort steering/suspension package for the three wheeler leave a lot to be desired.

Just checked the company information, Morgan Technologies is the holding parent of the Morgan Motor Company and a number of other related companies.

Principal Activities: HOLDING COMPANY WHOSE SUBSIDIARY ENAGED IN MANUFACTURE OF MOTOR VEHICLES ANDSUPPLY OF RACE CARS ANDNON HOMOLOGATED RACE CAR PARTS AND ACCESSORIES, MANUFACTURER OF MORGAN 3 WHEELER

There doesn't seem to be any suggestion he's no longer part of the MMC in the announcement.

Colin

Charles has been in charge for a long time and after watching the new team finding it's feet, he feels it's time to take a back seat and steer the company with the other trustees.

Imho the current directors are doing a great job for the MMC as a company!

AND -which is far more of interest for us, the enthusiasts & customers- are doing a lot of good for US

Just imho, of course... but having had the honour to be in personal touch with both Charles & most of the directors, i strongly feel that a reasonable type of 'job-sharing' in between them is a must for a successful future of the companies!

And as long as the current board of directors stay what they seem to me - most competent, sympathic car & Morgan nuts - and play their individual roles in the day to day business AND Charles keeps his role - from which position ever - as 'the (well known & needed plus authentic!!) face of the Morgan Motor Company' everything can work out fine for all of us (customers) -as always: imho, of course...

I am not to indulge anybody here or wherever, but there certainly is more (needed) than just a well earned charisma (which is essential in addition!) for leading a future orientated car company, which is well advised not to leave their own heritage too far...

So let us all hope that they'll find a proper way of working together for what we all love:

the Morgan!!!!