CHARLES Morgan has announced his appeal against his departure from the Morgan Motor Company has been rejected.
Mr Morgan's appeal was heard on Friday, October 25 by the members of the Morgan family who occupy four out of six remaining positions on the board.
In a statement posted on his personal blog, Mr Morgan said: "I have been informed that Morgan has rejected my appeal and, as a result, I have been removed from Morgan Technologies
"It is incredibly disappointing news. My family and I remain very grateful for the expressions of support received from Morgan fans, workers and the public since this process began.
"I have been dismissed on what I believe are very contentious grounds. Over the last 12 months, it was made increasingly clear that my philosophy to modernise Morgan did not fit with the philosophy of the current management.
"Morgan’s future cannot rely on its heritage alone. As such, I endeavoured to introduce our unique brand to new markets such as China; to take Morgan racing again; and to engage the passion of a new generation using social media, and by doing interesting things such as the Gumball Rally in a 3 Wheeler.
"The aim was to give Morgan a bright future as an independent company.
"Nonetheless, I look upon my business record with pride – volumes doubled during my tenure and profits for the first six months of the year had increased dramatically to £1.2 million.
"I remain a major shareholder in the Morgan Motor Co and am concerned for its future. I will take time to consider my next actions and potentially explore other opportunities available to me."
Managing director, Steve Morris, confirmed the original decision had been upheld by the appeals panel but said the reasons for doing so were confidential.
The company announced Mr Morgan’s departure from the management team and board of directors earlier this month, saying it needed to “strengthen” its operation in order to respond to the “scale and complexity of an increasingly global business”.