Sign up for our newsletter and go inside the world of luxury.The situation he inherits at Aston couldn’t be more different. Aston’s share price—already on the slide since its controversial 2018 IPO—plunged 26 percent in one day in July 2019, when Palmer’s Q2 profit warning made clear that his DB11 and Vantage sports cars just weren’t selling.And then the Covid-19 crisis hit at exactly the worst moment: just as Aston had built and staffed the new factory in Wales, where it will build the linchpin of its expansion plans, the DBX SUV. Speaking to RR1 is the private membership club that brings the pages of Robb Report to life.Please fill out this field with valid email address. Tobias Moers is about to exit stage left from AMG, set to head-up Lawrence Stroll’s rebuilding effort at Aston Martin..
Tobias Moers's career as chief executive officer (CEO) of Mercedes-AMG, the three-pointed star's high-performance vehicle division, comes to a close, as … But the coronavirus crisis has added a level of difficulty to the turnaround plan put in place with Stroll’s arrival.Aston Martin reported a 76.6 million-pound operating loss in the three months ended in March, and said it couldn’t give a clear view on the full-year outlook.
The move follows a cash rescue in March led by Canadian Lawrence Stroll, who is now executive chairman. The company plans to launch derivative models to the DBX in 2021, Palmer said in an interview this month. Under his watch, the performance-car brand expanded its product lineup, adding compact pocket rockets like the GLA 45, and stepped up development of hybrid models.In a statement, Stroll said Aston’s technical partnership with Daimler will continue.
By last summer it was apparent the wheels were coming off Palmer’s plan.
Tobias Moers, 54, takes over as Aston Martin's CEO on August 1 Gordon Sutherland’s family owned Aston Martin between 1933 and 1947. Tobias Moers is President/CEO/Executive Director at Aston Martin Lagonda Global Holdings PLC.
Aston has used Mercedes’s fabulous M177 twin-turbo V-8 engine since the 2018 DB11 and also borrows its electronics and infotainment systems. Moers to replace Andy Palmer atop U.K. luxury carmaker
He once told me that no car got the AMG badge without his driving it and approving it, but his task at Aston is to fix the company rather than the product. They remain more than 90% below their October 2018 initial public offering valuation.Moers, 54, studied engineering in Offenburg, Germany. See Tobias Moers's compensation, career history, education, & memberships.
AMG's Tobias Moers To Aston Martin Is A Marriage Made In Petrol Heaven. Mercedes’s parent, Daimler, has a 5 percent stake in Aston, and Toto Wolff, the head of Mercedes’s F1 team, took a personal stake in Aston just weeks before Moers accepted his new job. Moers, 54, studied engineering in Offenburg, Germany. Rather than maintaining the usual hurt silence at the loss of a valued lieutenant, Daimler CEO Ola Källenius publicly praised Aston’s hire.The two brands seem to be getting closer. Moers, an ambitious 54-year old engineer who joined AMG 26 years ago and has held many roles in the company, is successful and widely experienced at making and selling high performance cars. Tobias Moers, Aston Martin’s Brand New CEO, Isn’t Backing Down From the Moment He'll have to combat slow sales and an anemic share price, plus launch a new factory in the time of Covid-19. The carmaker said this month that it may need to Palmer, who joined Aston Martin from Nissan in 2014, had been focused on the introduction of the pivotal DBX, a $189,000 sport-utility vehicle at the heart of Aston Martin’s comeback strategy.
He briefly worked at an electric-car startup before joining AMG, where he has held the top job since October 2013.
Then he needs to balance Aston’s supply-and-demand problem, getting closer to Ferrari’s model of always building one car less than the market demands, to avoid discounting.Only then can he turn his attention to the cars.
Moers is “the right leader for Aston Martin Lagonda as we implement our strategy for the business to achieve its full potential,” he said.Aston Martin has struggled with cash flow and dealer-inventory pile-ups since going public in 2018, and had hoped that the fundraising approved by shareholders in March would eliminate the need to seek additional money. From then until ’99 he was tasked with project management, before assuming responsibility for the main production series for the brand. Shares surge as billionaire chairman brings in new leader Likely to be launched in 2022 and 2023, the Valhalla and Vanquish are probably already well advanced, but Moers is sure to put his stamp on them.
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