Currently reading: Aston Martin boss Andy Palmer set to be replaced by AMG boss Moers
Aston confirms management talks following Financial Times report that AMG boss Tobias Moers is being lined up to take top job on Tuesday
Jim Holder
News
2 mins read
24 May 2020

Aston Martin has confirmed it is reviewing its management team, following speculation that boss Andy Palmer will be replaced at the helm of the company by AMG boss Tobias Moers on Tuesday in a report in the Financial Times.

The British sports car maker has responded to the report in a brief written statement. It said: "Aston Martin Lagonda notes recent press speculation. The company confirms that it is reviewing its management team and a further announcement will be made as and when appropriate."

Palmer's position as chief executive has been the subject of speculation since billionaire Lawrence Stroll led a consortium that bought 25% of the firm last month, selling part of that shareholding on to another consortium led by Mercedes-AMG F1 team principal Toto Wolff.

Last month Stroll reiterated his belief in the product plan set out by Palmer and his team, focusing initially on the launch of the new DBX SUV, then the Valkyrie hypercar and then a new mid-engined supercar, called Valhalla.

However, with Palmer having led the firm to its public IPO in 2018, and then overseen setbacks - including a £120m loss in the first three months of this year - that led to the share price falling by 90% from that point, his position now appears to be under threat.

When asked by Autocar to confirm that Moers was leaving the firm a spokesman said: "We do not comment on speculation."

Moers has notably grown AMG's presence and profits since taking the helm of the lucrative performance division of Mercedes, which owns a stake in Aston Martin and is an engine and component supplier to the firm.

READ MORE

Aston seals funds for DBX production but issues long-term warning 

Mercedes to discuss Formula 1 withdrawal, potentially triggering sensational Aston Martin buyout 

Billionaire Stroll takes major stake in Aston Martin

 

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Comments
21

24 May 2020

 Well, his head on the block for the losses, buck stop and all that.

25 May 2020
Thankfully they've seen fit to retain the genius that is Marek Reichmann. With his visionary designs backed up by manager capable of providing the resources necessary to produce quality cars, Aston can one again return to greatness.

25 May 2020
jason_recliner wrote:

Thankfully they've seen fit to retain the genius that is Marek Reichmann. With his visionary designs backed up by manager capable of providing the resources necessary to produce quality cars, Aston can one again return to greatness.

 

Some people won't understand your sarcasm!

 

They should have given Reichman the boot a long time ago...

25 May 2020
Symanski wrote:

jason_recliner wrote:

Thankfully they've seen fit to retain the genius that is Marek Reichmann. With his visionary designs backed up by manager capable of providing the resources necessary to produce quality cars, Aston can one again return to greatness.

 

Some people won't understand your sarcasm!

 

They should have given Reichman the boot a long time ago...

26 May 2020
Symanski wrote:

jason_recliner wrote:

Thankfully they've seen fit to retain the genius that is Marek Reichmann. With his visionary designs backed up by manager capable of providing the resources necessary to produce quality cars, Aston can one again return to greatness.

 

Some people won't understand your sarcasm!

 

They should have given Reichman the boot a long time ago...

Sarcastic?  Every model in the current range looks absolutely superb, DBX included.  The new Vantage makes the old one - a very sexy car in it's day - look somewhat plain and very dated.  The guy is clearly one of the top automotive stylists working today.

24 May 2020

It's a shame because he had all the right credentials to make Aston Martin succeed with his engineering expertise and process management skills learnt at Nissan.  Sadly, he got his head turned by Formula One and by racing his own product.  If he'd stayed true to his roots and concentrated on building better cars he might have stood a chance.   

24 May 2020
jezzajezza wrote:

It's a shame because he had all the right credentials to make Aston Martin succeed with his engineering expertise and process management skills learnt at Nissan.  Sadly, he got his head turned by Formula One and by racing his own product.  If he'd stayed true to his roots and concentrated on building better cars he might have stood a chance.   

 

Aston Martin's involvement with F1 is emphatically not what will cost him his job. Lance Stroll is going all in.

Personally I think it's the wrong strategy for them and they should take the Valkyrie racing instead, but we shall see what happens. 

 

24 May 2020

You're right scrap.  F1 didn't cost Palmer his job.  But I do think that time spent in the pit lane at FI events all around the world would have been better spent at the factory where he was ideally equipped to bring the brand forward.  But Aston is a big train set for a CEO.  Lots of opportunities to hang with the cool kids, play with the product and live the dream.  That's best left to the customers though.   Plus there's a huge temptation for modern CEOs to become the face of the brand and Palmer followed that path.  That carries risk because, when the brand fades, the CEO falls first.  All that said he deserves great credit for DBX and St Athan both of which took vision and great skill to bring to fruition. 

24 May 2020

I think it's McLaren that need changes at the top.

24 May 2020

Aston's designs are set to get brasher. The DBX is a stunning suv.

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