The board of Aston Martin Lagonda Global Holdings plc has announced that, Dr. Andy Palmer and the board agreed that he would step down as president and group chief executive.
The board also announced the appointment of Tobias Moers, as chief executive. Moers, 54, will be appointed to the board as an executive director and will take over from Palmer. He will be based at the company’s headquarters in Gaydon, Warwickshire and will join on Aug. 1.
In the interim period Keith Stanton, currently vice president and chief manufacturing operations officer, is appointed interim chief operating officer to support the executive chairman, Lawrence Stroll.
Moers is a successful and experienced automotive professional having spent more than 25 years in senior roles at Daimler AG, the German-based global automotive OEM. He is currently chairman of the management board and chief executive of Mercedes-AMG GmbH, a position he has held since October 2013. He is also acting chief technical officer. He has established a successful track record of implementing business transformation in a competitive environment.
Moers said: “I am truly excited to be joining Aston Martin Lagonda at this point of its development. I have always had a passion for performance cars and relish the chance to work for this iconic brand which I was close to on the technical side at the beginning of the partnership between the two companies. Following the arrival of Lawrence, as executive chairman, the significant investment from his Yew Tree Consortium, the completion of the equity raise and the reset, I believe that there is a significant opportunity to harness the strengths of the business to successfully deliver the planned product expansion and brand elevation. I am looking forward to working with Lawrence and the whole Aston Martin team to build a stronger business for our customers, our employees, our partners and our shareholders.”
Palmer said: “It has been a privilege to serve Aston Martin Lagonda for almost six years. The launch of many new products including the new DBX demonstrates the dedication and capability of our employees. I would like to thank my management team and all the staff for their hard work and support, particularly during the challenges presented by COVID-19. I am proud of you all and it’s been an honor to work with you.”
