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Aston Martin appoints Tobias Moers as CEO

NEWS STORY
26/05/2020

Aston Martin Lagonda has confirmed the appointment of Tobias Moers, as CEO, taking over from Andy Palmer.

He will be based at the Company's headquarters in Warwickshire and will join on 1 August 2020. 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 highly successful and experienced automotive professional having spent more than 25 years in senior roles at Daimler AG. He is currently Chairman of the Management Board and Chief Executive Officer 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.

Under his leadership, 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. Tobias' focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness.

"The Board has determined that now is the time for new leadership to deliver our plans," said Lawrence Stroll. "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 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. Throughout his career he has delivered product expansion, strengthened brand positioning and improved profitability. He is the right leader for Aston Martin Lagonda as we implement our strategy for the business to achieve its full potential. Our ambition for the company is significant, clear and only matched by our determination to succeed.

"All of my and Tobias' energy will be dedicated to building on the Company's inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become one of the pre-eminent luxury car brands in the world."

"I am truly excited to be joining Aston Martin Lagonda at this point of its development," added Moers. "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."

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READERS COMMENTS

 

1. Posted by BrightonCorgi, 27/05/2020 15:10

"A new CEO was inevitable when a major investor like Stroll comes in. Toto already made a fortune on the stock if he sold it today."

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2. Posted by trackrecords, 26/05/2020 20:40

"If you want to be successful bring in a German, especially one from Daimler. Basically, it doesn't really give Andy Palmer a glowing CV entry - was he the problem?
I assume he get a golden 'goodbye' to pave the way until his pension kicks in...
"

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