By Ian Walker
Aston Martin Lagonda Global Holdings said Friday that Daniel Li, Geely's nominated shareholder representative, has been appointed as a nonexecutive director of the board as per the agreement between the two in May.
On May 18 the U.K. luxury-car maker said that Geely Automobile Holdings will invest around 234 million pounds ($299.4 million), becoming its third-largest shareholder, and that Geely had the right to appoint a nonexecutive director to the board.
Under the deal Geely bought 42 million Aston Martin shares from the Yew Tree consortium, taking its shareholding in the company to around 17% of its issued share capital.
Li is chief executive officer of Geely Holding Group.
Shares at 0732 GMT were up 8.80 pence, or 2.4%, at 381.0 pence.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
07-28-23 0355ET