Charles Morgan Issues Statement About Eviction From Family Owned Car Maker

TTAC Staff
by TTAC Staff

From Charles Morgan’s personal blog.

October 18 2013 – Statement from Charles Morgan

As has been widely reported, I have been asked to leave the Morgan Motor Company by the board. It is a sad decision that I am appealing; I remain a major shareholder in Morgan.

I’m proud to say I leave with the company’s annual production volumes double what they were at the start of my tenure, with new export markets such as China opened to the company. Morgan remains a small but successful family firm.

I’d like to be clear that I am not a tycoon but a family man – I inherited a company not wealth – and unexpectedly leaving its employment will be a hardship for myself and my family. Being asked to leave the company that bears my name is also extremely personally distressing. That is made more painful as today marks 10 years since my father, Peter Morgan, died and I feel him in spirit with me in this dispute.

However my primary concern is completely for the company I have spent 30 years helping to build, and specifically for Morgan’s employees, who I hold in the highest regard. I want nothing but success for Morgan Motor Company in the future and remain committed to this goal.

I am very grateful for the expressions of support received on twitter and elsewhere, particularly from the employees of Morgan.

I will be making no further statements for the time being.

– Charles Morgan
@charlesmorganuk


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  • Bluegrass Bluegrass on Oct 19, 2013

    I wouldn't be surprised shortly after this that we hear about Morgan selling itself to some much larger company.

  • Skink Skink on Oct 20, 2013

    Now we know where Mulally's going.

  • Commando Commando on Oct 20, 2013

    The earlier post nailed it. Family wants to cash in. He wanted to continue his father's legacy. No room for sentiment here. Business is business. The bahstahds! RE: Men's Warehouse. I will never go there again. But they won't care. I'm not part of their newly targetted under 40 demographics anymore.

  • GS650G GS650G on Oct 21, 2013

    I once worked at a private company that was pressured to go public "so people could benefit from their shares" or in other words cash out. A few years later GE came along and bought the whole company, again it was the family of one of the deceased founders who pressured the deal. Sad to see it all go. GE promptly stripped what they wanted and jettisoned all the rest. The days of family run or owned companies is coming to an end.

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