Audi has officially announced it has acquired Ducati Motor Holding from Investindustrial. Terms of the deal were not announced, though they should be made available April 19 at the annual stockholders meeting for Audi’s parent company, the Volkswagen Group. Previous reports have the price pegged at 860 million euros (US$1.1 billion). (UPDATED with statement from […]
Ex-Ducati CEO Michael Lock Lands at Lamborghini
Former Ducati North America Chief Executive Officer Michael Lock has landed a job at another exotic Italian vehicle manufacturer: Lamborghini.
During his seven-year tenure with Ducati North America, Lock reorganized the company’s marketing, distribution and service operations, helping Ducati increase its share of the North American market to record highs. Lock is also believed to have been a driving force behind the development of the Ducati Diavel.
Lock will now bring his experience to Lamborghini where he will don the role of chief operating officer of the company’s U.S. business. Lock replaces Wolfgang Hoffmann who is moving on to become president of Audi Canada.
“I’m delighted to be joining such an iconic brand as Lamborghini at this time,” says Lock. “I look forward to broadening Lamborghini’s position as one of the leading luxury sports car brands in the U.S.”
Since leaving Ducati, Lock had been working with Norwegian electric vehicle maker THINK. Lock had also previously served as CEO of Triumph Motorcycles USA.
Michael Lock leaves Ducati North America