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Alan Garnett, Chairman MMC, resigns

posted Nov 15, 2010, 7:02 PM by L.D. McLaughlin Jr.
Tony McLaughlin, September 5, 2006
The Morgan Motor Company recently announced the retirement of Mr. Alan Garnett, MMC Chairman since 2003. The Works noted that Mr. Garnett had decided to attend to his other business interests. His tenure at the Pickersleigh helm is striking in its effect and warrants comment and commendation here.

He arrived on the Morgan scene during a pivotal period. The Company has often admitted to how dire those days were. The decisions of the years leading up to Garnett's assuming the helm had created a series of enormous losses, emptied the legendary Morgan order book and treasury and lead the once cash-rich Works into hard bank financing, a first-ever experience for the 100-year old company. The passing of the incredible icon, Peter Morgan, had thrown a pall over the company and the community.

Alan Garnett stepped into all this with characteristic vigor and enthusiasm, along with an open door and style. He reorganized the decision structure of the Company, dealt with the bankers, rallied the dealers with a new Dealer's Counsel and searched for new energies for the neglected traditional Morgans, the Company's mainstay. He addressed the financing problems, no small task in itself.

The report card is exemplary. He leaves the company with a plump 2 year order book and a blazingly hot-selling 4 seater (who would have thought that was possible a few years ago?!!). His recently arranged refinancing brilliantly re-empowers the Company and its shareholders. We have not always agreed with each detail of his decisions but his scores here are unquestioned.

It has long been said that the Morgan family has always been blessed with uncanny luck. There is no more poignant evidence of this than Alan Garnett. He has given the Morgan Family and their company a second chance. Let us hope they nurture it this time.