Aston Martin has appointed Tobias Moers as its Chief Executive Officer Andy Palmer, who has been President and Group Chief Executive. In his new role, Moers will be based at the Company’s headquarters in Gaydon, Warwickshire starting from August 1, 2020.
In the interim period Keith Stanton, currently Vice President and Chief Manufacturing Operations Officer, is appointed interim Chief Operating Officer reporting to the Executive Chairman, Lawrence Stroll.
Tobias Moers, currently Chairman of the Management Board and Chief Executive Officer of Mercedes-AMG GmbH, is a seasoned automobile industry executive with over 25 years of experience in senior roles at Daimler AG.
Under Moer’s stewardship, Mercedes-AMG 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. Aston Martin hopes Moers will be able to replicate this performance record at Gaydon. Aston martin has been struggling for a while now, despite the introduction of its much-anticipated SUV, the DBX.
Lawrence Stroll, Aston Martin Lagonda Executive Chairman said: “The Board has determined that now is the time for new leadership to deliver our plans. 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.”
Commenting on his new role, Tobias 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.”
The outgoing CEO 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.”