Andy Palmer has officially stepped down as the boss of Aston Martin, and will be replaced in due course by the Tobias Moers, the CEO of Mercedes-AMG. The dramatic departure was heavily trailed in the national press over the weekend, with Palmer believed to be a casualty of Aston's flailing share price and the incoming influence of new Executive Chairman, Lawrence Stroll. He will step down with immediate effect, temporarily replaced by Keith Stanton, Aston's Chief Manufacturing Operations Officer before Moers starts in August.
The official press statement is succinct in its reasoning: "The Board has determined that now is the time for new leadership to deliver our plans," a quote pointedly attributed to Stroll. Naturally he goes on to thank Palmer for his contribution, and highlights the good things he instigated in nearly six years with the firm, without dwelling on the 90 per cent drop in share price which contributed to his downfall.
Palmer is afforded a single paragraph to sign off with: "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."
Predictably, the rest of Aston's announcement is given over to lauding Moers, and highlighting Aston's relationship with his former employer. "I am delighted to welcome Tobias to Aston Martin Lagonda," reported Stroll. "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."
Who is Moers? A heavyweight, that's who. No-one doubted Palmer's nous when he came onboard in 2014 - he'd done 23 seriously impressive years at Nissan - but Moers has been at Mercedes-AMG even longer, and has run the performance division since 2013. Before that he'd spent a decade directly overseeing the development of every AMG-branded model. That's a serious legacy, when you consider that Mercedes didn't even take a controlling stake in the firm till 1999.
Consequently, Moers has had a hand in every significant decision made at AMG in the last twenty years - and you hardly need us to tell you that includes some humdingers. His company biog mentions the SLS (a watershed moment for AMG) and the subsequent AMG GT in 2014 - but there were also the Black Series cars, the introduction of AMG's first hot hatch and the signing off of the F1-derived ONE. Two decades ago, AMG was an interesting footnote in Mercedes' lineup; now it's a prominent part of virtually everything the manufacturer does.
Granted, wider market conditions have helped the brand prosper in that time, and we won't pretend that everything badged AMG has been a triumph. But Palmer's appointment was originally greeted with huzzahs all round on the basis that here, finally, was someone who could supply also-ran Aston Martin with the ruthless acumen of a mass market manufacturer. Now it has a man who oversaw (or who was, at the very least, integral to) AMG's transformation from charismatic sideshow to globe-conquering luminary - quadrupling the number of units sold in that time.
And thanks to Palmer, he already has many of the necessary tools at his disposal: a new factory cranking out a good-looking (and by all accounts, first-rate) SUV; a product pipeline studded with enthusiast pleasing supercars; a talented engineering and development team; a working partnership with a major manufacturer; a prestigious and highly desirable brand; and a fresh-faced investor with deep (albeit strings-attached) pockets. None of those virtues saved their architect, of course - and Aston's woes are almost certain to be compounded by a once-in-generation depression - but Moers clearly fees like he has a lot to work with.
"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," he said. "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. I am looking forward to working with Lawrence and the whole Aston Martin team to build a stronger business for our customers, our employees, our partners and our shareholders."
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