The Board of Aston Martin Lagonda Global Holdings plc has announced that their President and Group Chief Executive, Dr. Andy Palmer would be stepping down. Dr. Palmer who once worked for Carlos Ghosn of Renault-Nissan Alliance fame, envisioned sweeping changes to Aston Martin Lagonda’s lineup, with what he termed a ‘Second Century Plan’. The DB11 was the first car to be released under that plan in 2016, followed by the two-seater Vantage, and the V12-engined DBS Superleggera.
Aston’s future was also hinged on the recently showcased DBX, the brand’s very first SUV, developed in response to an evolving market, where other luxury sports car makers, like Porshce and Maserati have caught on much earlier in the game. Palmer was also the driving force behind their very first hypercar, the Valkyrie.
Lawrence Stroll, Aston Martin Lagonda Executive Chairman who also injected GBP 536 million into the company, said: “The Board has determined that now is the time for new leadership to deliver our 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. 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.”
Tobias Moers who is slated to join Aston Martin Lagonda on 1 August 2020, and currently helms Mercedes-AMG; where he had successfully grown its product range, and the number of units sold. Under his care, the prestigious AMG badge gained prominence across the Mercedes-Benz portfolio, making the sought-after nameplate attainable to the masses.
With Moers at its helm, and with Daimler AG which owns a 5% stake in Aston Martin, and supplies the independent British manufacturer with its bi-turbocharged 4.0 litre V8 engines, which powers the Vantage and the V8 DB11, and some cabin componentry; we could perhaps see even more Mercedes hardware in future Astons and Lagonda cars.