Charles Morgan has been replaced as the managing director of Morgan Motor Company, following a decision by board members and shareholders.

Taking his place is Steve Morris, who was previously the operations director at Morgan.

"Charles Morgan will concentrate on his vital role as the face of Morgan internationally, promoting the brand and selling the company's products worldwide," a Morgan statement read.

A Morgan spokesperson added, "It gives Charles the time to do what he needs to do on an international level, and it felt like a natural progression for Steve."

Morgan insisted that the change was amicable and not driven by a lack of satisfaction with Charles Morgan's performance, as had been rumoured. 

Nick Baker, sales manager at the Morgan Motor Company, said, "Charles will remain the figurehead of Morgan. His role is now to focus on opening doors and creating the market."