Aston Martin was in a tough position before Canadian billionaire and Formula 1 team owner Lawrence Stroll came in last January and gave the company a £500 million-plus lifeline and became its chairman. The new Vantage was a sales flop, and a 2018 IPO proved to be disastrous. Andy Palmer, CEO of Aston Martin from 2014 and the driver behind the IPO, vacated his position last May, and Stroll replaced him with longtime AMG head Tobias Moers.
It’s hard to imagine anyone more capable of turning Aston Martin around than Moers. He helped transform AMG into the profitable powerhouse it is today, and while he himself is a bonafide car enthusiast and a brilliant engineer, he’s a no-bullshit businessman too. Yesterday, we had our first chance to speak with Moers since joining Aston Martin last August, and he gave us a full rundown of the company’s future. And better still, reason to be hopeful about the brand.
One of his first major moves at Aston was to go to his old employers at Mercedes-Benz and strengthen their relationship. Last October, the two announced that Mercedes would up its stake in Aston from 2.6 to 20 percent, making it the second-largest shareholder behind Stroll. In return, Aston Martin gained greater access to Mercedes powertrain technology, and Moers subsequently canceled a new V-6 in development. For the full story, check out this article from Road & Track.