Aston Martin appoints ex-AMG boss Tobias Moers as new CEO from August 1 – Andy Palmer steps down

Tobias Moers

After some speculation, Aston Martin Lagonda has now confirmed that Andy Palmer will be stepping down as president and group CEO of the British marque. In an official statement, the company also announced that Tobias Moers will replace Palmer from August 1, 2020.

Moers will be appointed as CEO and join the company’s board as an executive director, based in the Aston’s Martin’s headquarters in Gaydon, Warwickshire. The German brings with him an impressive resume, having helmed Mercedes-AMG since October 2013 and has held senior roles within the Daimler Group previously.

“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,” said Moers.

“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,” he added.

Andy Palmer

Meanwhile, Lawrence Stroll, executive chairman of Aston Martin Lagonda, said, “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,” Stroll continued.

On his departure, 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.”