Many people expected this day, following ongoing struggles within the Aston Martin business. Finally, after six years heading the brand, Andy Palmer will step down as President and Group Chief Executive.
Replacing him as the new CEO at the company’s headquarters in Gaydon, Warwickshire is Tobias Moers.
Moers has spent more than 25 years in senior roles at Daimler, including CEO of Mercedes-AMG since 2013. The Aston Martin board has appointed him in the hope that he can translate his successful track record of implementing business transformation in a competitive environment into the struggling British sports car manufacturer.
In the interim period Keith Stanton, currently Vice President and Chief Manufacturing Operations Officer, has been appointed interim Chief Operating Officer to support the Executive Chairman, Lawrence Stroll.
AMG isn’t exactly the three letters commonly found on Auto Futures but, under Tobias’ leadership, the performance brand has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment.
Whether this will resurrect Aston Martin’s electrification push, we will have to see. However, this could be good news for Rapide E fans, as there could still be some hope for the recently scrapped electric model if Moers decides that this would create an effective revenue stream.
“The Board has determined that now is the time for new leadership to deliver our plans,” said Lawrence Stroll, Aston Martin Lagonda Executive Chairman. “On behalf of the Board, I would like to thank Andy for his hard work, personal commitment and dedication to Aston Martin Lagonda since 2014. In that time the Company has successfully renewed its core sports car range, with the DB11, Vantage and DBS Superleggera and has brought the brand’s first SUV, DBX to a point of readiness for deliveries to start in the summer. Furthermore, the development of the era-defining Aston Martin Valkyrie hypercar has paved the way for the mid-engined range to come. I would also like to recognise his leadership through the current challenges and uncertainties presented by COVID-19.”
“I am delighted to welcome Tobias to Aston Martin Lagonda,” he continued. “He is an exceptionally talented automotive professional and a proven business leader with a strong track record during his many years at Daimler AG, with whom we have a longstanding and successful technical and commercial partnership, which we look forward to continuing.”
Upon his departure, Andy 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 honour to work with you.”