Aston boss to leave?

[jhoneyball]

According to the FT, Palmer might be about to leave?


"Aston Martin’s chief executive Andy Palmer is leaving the business as part of a shake-up aimed at restoring the fortunes of the flagging carmaker, according to two people with knowledge of the move.

The luxury carmaker will name Tobias Moers, who runs the AMG performance arm of Mercedes-Benz, as his replacement in an announcement scheduled for Tuesday.

When contacted by the Financial Times on Sunday Mr Palmer said he had not been informed of the coming announcement and declined to comment further. Aston Martin declined to comment."


https://www.ft.com/content/cbea48e5-69f7-4774-81cb...

[HustleRussell]

Toto Wolff?

[Mr-B]

If it does turn out to be true it's a pretty bad way to find out about your sacking. Although the £10's of millions of floatation shares should cushion the blow, well at least the ones he sold early on.

[spikeyhead]

Mr-B said:

If it does turn out to be true it's a pretty bad way to find out about your sacking. Although the £10's of millions of floatation shares should cushion the blow, well at least the ones he sold early on.

It could be worse, Dave Swarbrick found out he'd died when he read his own obituary in the Telegraph.

[jhoneyball]

Mr-B said:

If it does turn out to be true it's a pretty bad way to find out about your sacking. Although the £10's of millions of floatation shares should cushion the blow, well at least the ones he sold early on.

its entirely possible that he knows but cant say anything until an announcement.

[Jonesy23]

Mr-B said:

If it does turn out to be true it's a pretty bad way to find out about your sacking. Although the £10's of millions of floatation shares should cushion the blow, well at least the ones he sold early on.

Only 90% down since IPO so Marianas Trench levels of underwater on those.

If they were selling battery powered stboxes they'd be worth a fortune regardless of their cash burn.

[matrignano]

Not surprised that Stroll wants to shake things up, it was only gonna end one way for Palmer!

[samoht]

I've not seen anyone describe anything Andy Palmer has done wrong yet - so at present if he got sacked it would seem like he was being blamed for circumstance, which is a silly way to get rid of someone good IMO.

Mr Moers would presumably be the person who rage-quit a Mercedes meeting on being told that future AMGs would have no more than four cylinders, so I guess I could imagine him choosing to go and play with sixes and twelves over at Aston.

[Esceptico]

No doubt he will get a multimillion payoff to ease the pain. Along with the millions he has presumably made so far. Being a CEO of a big company (when your own money isn’t at stake) really is a win-win situation because if you get lucky and the market goes up or ideas of the people below you work then you take the praise and the cash...if it all goes wrong blame the market or someone else and pocket the severance pay. Only problem is getting yourself into the gilded seat in the first place.

[Unsorted]

Mr-B said:

If it does turn out to be true it's a pretty bad way to find out about your sacking.....

Having dealt with Palmer personally, I have zero sympathy if the reports are true.

Still intrigued as to whether the "secret" investigation he implemented into "Works" came to anything, and if he told Stroll about it or its outcome (whether bad or good).

Edited by Unsorted on Sunday 24th May 20:22

[jhoneyball]

autocar says aston has confirmed it is reviewing its management team

https://www.autocar.co.uk/car-news/industry/aston-...

[jhoneyball]

Unsorted said:

Having dealt with Palmer personally, I have zero sympathy if the reports are true.

Still intrigued as to whether the "secret" investigation he implemented into "Works" came to anything, and if he told Stroll about it or its outcome (whether bad or good).

Edited by Unsorted on Sunday 24th May 20:22

any more info on this works investigation?

[ettore]

Not a complete surprise if true. Moers was interested in this the last time the CEO changed. The shareholders appeared to think they knew better at the time.

Things, they come a’circle.

[jhoneyball]

And he's gone

[Eric Mc]

My immediate thought when I saw the thread title was that it would be about Aston Villa, not Aston Martin.

[anonymous-user]

He’s just making sure Lance has a job when his F1 career is over.... which won’t be long...

[Murph7355]

Just another turn in the history of Aston.

Product line up continues to be confused. Not sure they know what they want/need to be. Focus always seems to be on the window dressing.

Loved mine. Wouldn't buy another at the moment.