Aston Martin replaces CEO with Mercedes boss
Aston Martin Lagonda has confirmed Tobias Moers, boss of Mercedes-AMG, will become its chief executive from August 1.
The 54-year-old replaces Andy Palmer, who stepped down as president and chief executive of the British luxury carmaker on May 25.
Aston Martin Lagonda says Moers, who will be based at the company’s headquarters in Warwickshire, had built a reputation for transforming businesses in tough environments during his 25 years at Daimler.
Germany’s Daimler AG owns a five per cent stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines.
Moers, pictured, is currently chairman and chief executive of Mercedes-AMG, a position he has held since October 2013.
“I am truly excited to be joining Aston Martin Lagonda at this point of its development,” he says.
“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.
“I am looking forward to working with the whole Aston Martin team to build a stronger business for our customers, our employees, our partners and our shareholders.”
Lawrence Stroll, executive chairman at Aston Martin Lagonda, says the board had determined it was time for new leadership to deliver its 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,” Stroll adds. “In that time the company has successfully renewed its core sports car range … and has brought the brand’s first SUV, DBX to a point of readiness for deliveries to start.
“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.
“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 … and become one of the pre-eminent luxury car brands in the world.”
