The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Aston Martin Lagonda Global Holdings Plc is poised to replace Chief Executive Officer Andy Palmer with the head of Daimler AG’s Mercedes-AMG performance division, according to people
familiar with the matter.
AMG head Tobias Moers could be named as Aston Martin’s new CEO as soon as this week, the people said, asking not to be named because the matter is confidential.
In a statement, Aston Martin said it’s reviewing its management team and any announcement will “be made as and when appropriate.†The Financial Times reported earlier on the planned changes.
The shakeup comes less than two months after the British sports-car maker brought in new investors led by billionaire Lawrence Stroll, who became executive chairman. The 536 million-pound ($663 million) capital infusion was meant to rescue the debt-laden company, which has struggled since Palmer took it public in 2018 with a plan to mimic the success of Italy’s Ferrari NV.