A cross-Channel coup of sorts has seen Aston Martin CEO Andy Palmer replaced by Mercedes-AMG CEO Tobias Moers in a move made official by the British luxury performance brand Tuesday morning.
Head of Aston since 2014, Palmer’s ouster reportedly came after the recently listed automaker’s stock price plummeted through the end of 2019, with the coronavirus pandemic only adding to its downward momentum — a trajectory shared in the first quarter of 2020 by the company’s sales and revenue.
Will Moers be able to cultivate some AMG-like magic in British soil?
Joe Hinrichs, a top Ford executive tasked with overseeing the company’s global businesses, manufacturing, and product development — and once seen as a potential successor to CEO Jim Hackett — is retiring from the automaker.
The news comes just days after a dismal fourth-quarter earnings report revealed a profit loss of nearly 99 percent in 2019 and a Q4 hit of more than $1.6 billion — with much of the financial damage stemming from the botched launch of the next-generation Explorer.
José Muñoz, who resigned as Nissan’s chief performance office r in January, is now on the Hyundai payroll. Muñoz jumped ship as turmoil roiled Nissan’s upper ranks and investigations began in the wake of former chairman Carlos Ghosn’s arrest.
The exec, seen as a close ally to Ghosn, previously served as chairman of the automaker’s North American business — a region he’s returning to, albeit with another automaker.
Ford Motor Company veteran Marcy Klevorn is set to retire come October, leaving her position as head of mobility in need of filling. No need for new blood in Ford’s C-suite, however, as there’s apparently room on Jim Farley’s plate.
Farley, Ford’s head of global markets, will add a new hat to his wardrobe even before Klevorn, 59, leaves the Glass House. Klevorn, whose tenure at Ford spans 36 years, will move to a (brief) new role after Farley dons the title of president of businesses, technology and strategy. There’s new responsibilities and a new title for global operations head Joe Hinrichs, too.
As we get older, whole sections of our lives are mentally distilled into a handful of standout moments, accompanied by the broad strokes of shared experiences. Among them is the middle school dance, which really isn’t so much a dance as it is an opportunity for people to stand around wishing everyone would couple up and get the party started. Everyone’s hunting for a partner, but few will see that dream realized, leaving them to stand by their closest friends while they mumble “it sure would be nice to find someone to dance with” into their fifth cup of punch.
The Geneva Motor Show looked a lot like that this year. With car sales cooling, emission controls tightening, and ambitious mobility projects eating into automakers’ profit margins, many companies believe the industry is evolving. However, no one’s certain what the future holds, so they’re dabbling in everything. That’s not a sound business strategy, especially if there’s no one around to help you share the financial burden.
As a result, auto executives spent quite a bit of time in Geneva hinting that they could use a dance partner.