Aston Martin Sees CEO Swap

Aston Martin Lagonda will be seeing new leadership. Tobias Moers will be surrendering his role as chief executive to make way for former Ferrari CEO Amedeo Felisa.

While the formal announcement was made on Wednesday, rumors about Moers getting the boot had been circulating ever since Aston Martin Racing head Otmar Szafnauer left the company in January after repeatedly butting heads with executive chairman Lawrence Stroll. Szafnauer was said to have resigned, however, reports suggested that the Canadian financier was displeased with his performance. At the time, there were claims that Moers’ head was next on the chopping block.

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Report: Aston Martin Seeking New CEO, Among Others

It’s no secret that Aston Martin is in financial trouble. It went into 2020 in rough enough shape to require extensive restructuring, making the subsequent years more about survival than growth. Executive Chairman Lawrence Stroll has said he remains committed to saving the company and reviving its defunct Formula One team on more than one occasion since then. But he is clearly fighting an uphill battle.

Despite having achieved a few sales targets after spending most of 2020 shut down, Aston Martin continues facing product delays and is losing talent faster than it can replace it. Some of this has been attributed (fairly or not) to CEO Tobias Moers, who took over for Andy Palmer in August of 2020. But it looks like Moers may be leaving the company as well if the latest reports are to be believed.

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Aston Martin Boss Shown the Door; New One Opens for Mercedes-AMG CEO

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?

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Mercedes Bringing AMG To The Masses With New Line

Is the raw power of the Mercedes-AMG lineup too much, but you still covet the name? The Teutonic marque has something just for you.

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  • EBFlex So all the reasons that were present and caused Ford to substantially raise prices less then a year ago are no longer present? What changed? Does it still cost Ford $25K more to make a fake Mustang than it does a comparable Edge? “The Michigan-based company cites “significant material cost increases,”  supply chain issues and changing demand for the new higher prices. ”So those issues are solved?
  • Stanley Steamer What is that white roadster in the background?
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