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New boss for Aston Martin as share prices plunge

New boss: Tobias Moers (left) will take over as CEO of Aston Martin from Andy Palmer (below) in August.

Ex-AMG boss Tobias Moers joins Aston Martin during sagging sales and excessive debt

28 May 2020

BELEAGUERED British sportscar icon Aston Martin, weighed down by $A1.15 billion of net debt and plunging car sales during the COVID-19 pandemic, has changed its guard and taken on former Mercedes-AMG boss Tobias Moers as its new CEO.

 

Mr Moers’s appointment as Aston Martin Lagonda’s boss sees the departure of former president and group CEO Andy Palmer, who held the post for six years, and follows a consortium of new investors and a shareholder issue that injected $A1.1 billion to keep the car-maker afloat.

 

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