The New Co-owner Of Aston Martin Fired The Director And Hired The Ex-head Of Mercedes-AMG

2023 Author: Natalie MacDonald | [email protected]. Last modified: 2023-05-21 02:36

Aston Martin has announced that Briton Andy Palmer is leaving the post of CEO after six years. From August 1, his place will be taken by the German Tobias Moers, who since 1999 was responsible for the development of the main AMG models, and in 2013 became the head of the entire Mercedes-AMG division.

• Palmer vacated the position immediately, and until Moers arrives, he will be replaced by Keith Stanton, Aston Martin's vice president and chief operating officer. He will report to shareholders and the new chairman of the supercar maker, Canadian billionaire Lawrence Stroll.
• Aston Martin has found itself on the verge of bankruptcy after spending massive amounts of money on updating current models, developing a DBX crossover and building a new factory for it. The coronavirus pandemic and the forced shutdown of production only exacerbated the situation: over the past year and a half, the shares of the British company have fallen by 98 percent. At one point, they traded on the exchange at 50 British cents against 19 pounds, which were fixed after the Aston Martin went public.

• At Mercedes-AMG, the functions of Tobias Moers after his departure will be divided between two top managers. Philippe Scheimer, head of the Brazilian office of Mercedes-Benz for the past seven years, has been appointed head of the sports division. The head of technical development will be Jochen Hermann, who already worked at Mercedes-AMG, but since 2016 has been involved in electromobility projects for the entire Daimler concern.

• Some experts do not exclude that the appointment of Moers could be the beginning of even closer cooperation between Aston Martin and Daimler. In recent years, Mercedes-Benz has already become a key technical partner of the British brand, organizing the supply of Mercedes-AMG turbo engines, as well as on-board electronics and other components.