Luxury automotive, motorsport and technology company McLaren Group has raised additional equity to support its long-term strategy. The Group has also confirmed Paul Walsh as Executive Chairman.

The existing, long-standing shareholders have provided £300m of equity to support the group and McLaren’s commitment to the brand’s strategy.

Paul Walsh brings a wealth of business experience to McLaren having worked at the FTSE 100 listed drinks company Diageo for more than 30 years, 13 of which he spent as Chief Executive Officer.

After successfully leading the reintegration of the McLaren Group, Shaikh Mohammed Bin Essa Al Khalifa, will become non-executive director and continue to support the Group’s ambitions.

Mr Walsh takes up his position at McLaren Group with immediate effect.

Paul Walsh, Executive Chairman, McLaren Group:

“I’m delighted to take up the position of Executive Chairman at McLaren Group, a remarkable British-based company that has built a reputation through a unique combination of modern luxury products alongside leading-edge technology applied on the racetrack and in businesses around the world.

“Shaikh Mohammed Bin Essa Al Khalifa has led a vital reintegration of the Group and I’m now looking forward to get working on the next phase of McLaren’s development.”

Shaikh Mohammed Bin Essa Al Khalifa, Non-Executive Director, McLaren Group:

“On behalf of all the shareholders, the Board and more than 4,000 talented people who work for McLaren around the world, I’d like to welcome Paul to the Group. He brings with him a vast wealth of experience which will be invaluable to the company.”