Aston Martin brings its new CEO from AMG

It didn’t take long for Lawrence Stroll to make his mark at Aston Martin. As often happens with a change of ownership, the existing management is the first to pack their bags. This will indeed be the case, with the announced departure of Andy Palmer.

It must be said that the financial situation of the luxury brand is quite precarious, further weakened by the global lockdown, which has had a direct impact on its sales. These sales thus plummeted by nearly half in the first three months of the year, leading to an operating loss of 133 million euros during the period. Since its listing in 2018, the stock price has collapsed by 90%, allowing Lawrence Stroll to renegotiate his equity stake, reaching 25%.

It is also interesting to see that his successor will be Tobias Moers, who led Mercedes’ high-performance division, AMG. Daimler is a 5% shareholder in Aston Martin, which could suggest a strengthening of the collaboration between the two entities. Especially since Toto Wolff has also made a personal investment, aided by his friendly relations with Lawrence Stroll.

He does not hide that he intends to continue the collaboration with the star brand: « I am delighted to welcome Tobias to Aston Martin Lagonda. He is an extremely talented automotive professional and a recognized leader, with many successes over his many years at Daimler AG, with whom we have a long-standing relationship and a technical and commercial partnership that we want to continue. »

While the relationship between Mercedes and Racing Point is already close, particularly with the controversy surrounding the winter tests, we can expect the collaboration to strengthen further in F1 since the team will take on Aston Martin’s colors next season.

With the participation of www.racingbusiness.fr