The Board of Aston Martin Lagonda Global Holdings plc has announced the appointment of Tobias Moers as Chief Executive Officer and as an Executive Director. Tobias, 54, will replace Dr Andy Palmer who is stepping down as President and Group Chief Executive.
He will be based at the company’s headquarters in Gaydon, Warwickshire and will join on 1 August 2020. In the meantime, Keith Stanton, who is currently Vice President and Chief Manufacturing Operations Officer, has been appointed interim Chief Operating Officer to support the Executive Chairman, Lawrence Stroll.
Tobias is leaving his current role of Chairman of the Management Board and Chief Executive Officer of Mercedes-AMG GmbH. He has held this role since late 2013. He is also acting Chief Technical Officer. Tobias has extensive success and experience in the automotive world, having spent more than 25 years in senior roles at Daimler AG.
Under his charge, Mercedes-AMG has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment. In 1999, he assumed responsibility for the main production series of the AMG brand. And in 2009, the team produced the SLS AMG, the first production supercar developed independently by Mercedes-AMG. This was followed by the Mercedes-AMG GT which spawned a series of models. Tobias’ focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness.
Tobias Moers said: “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. 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. 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.”
Lawrence Stroll became Executive Chairman of Aston Martin Lagonda in April 2020, after leading an investment consortium to take shareholding in the group. A successful billionaire, Lawrence gained fame from acquiring and growing luxury brands such as Ralph Lauren and Michael Kors. He is also part owner of the BWT Racing Point F1 team which will be renamed Aston Martin F1 in 2021.
Lawrence Stroll, Aston Martin Lagonda Executive Chairman 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.”
Andy 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.”