Amidst rumours of an unexpected managerial shake-up at Aston Martin on Monday (25 May), the iconic British supercar manufacturer has confirmed the departure of its CEO and President, Dr Andy Palmer, in favour of Mercedes-AMG CEO and Chairman, Tobias Moers.
The latest announcement comes on the back of Gaydon’s much publicised financial difficulties that resulted in concerns over production of the DBX not materialising, which has since been softened following an investment of a reported £536-million (R11.1-billion) by billionaire Lawrence Stroll, father of current Racing Point F1 driver Lance, and more recently, Mercedes-AMG F1 boss Toto Wolff.
Aside from Palmer, who took charge of the company six years ago, current Vice President and Chief Manufacturing Operations Officer, Keith Stanton, jumps office to the position of interim Chief Operating Officer in supporting Executive Chairman Stroll.
“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,” Moers, who had been the three-pointed star’s performance division head for nearly seven years, said.
“Following the arrival of Lawrence, as Executive Chairman, 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”.
According to reports, Moers’ position will be taken by Mercedes-Benz Brazil boss, Philipp Schiemer, with effect from 1 August when the former swaps Affalterbach for Gaydon.
“We have mixed emotions about his departure. On the one hand we are losing a top executive, but at the same time we know that his expertise will be of great value to Aston Martin, a company with which we have a longstanding and successful partnership,” Daimler CEO and Mercedes-Benz Chairman, Ola Källenius, was reported as saying.
In the accompanying statement, 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”.
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