Andy Palmer resigns as head of the British Aston Martin

Andy Palmer resigns as head of the British Aston Martin

May 25, 2020 0 By autotimesnews

According to a foreign publication, it will soon be decided that the current CEO of the British brand Aston Martin Andy Palmer will resign.

Six-year-old Aston Martin CEO Andy Palmer will resign and this will be one of the most important events in the automotive industry this year. According to the reputable publication Financial Times, the British brand will be able to find a replacement for Mr. Palmer this week. One of the possible candidates is the current boss of the sports brand Mercedes-Benz AMG Tobias Moers. Due to the fact that at the beginning of this month, the British company was hit hard by sales due to coronavirus and a sharp drop in the prices of its shares on the stock exchange, it seems that investors believe that big changes are necessary for the automaker.

Palmer’s role in the company has already been speculated and rumored since billionaire Lawrence Stroll bought almost 20% of Aston Martin earlier this year and invested another $ 240 million.

  Stroll, who is now the executive chairman of the British brand, has made many changes that we are witnessing now, and now that the head of the Mercedes-AMG Petronas F1 team Toto Wolf has also acquired 4.8% of the shares, it is no secret that Aston Martin will have big changes.

 Aston Martin reacted to the news of the personnel reshuffle and said that the company is checking its management team and that if necessary, restructuring will occur. The Financial Times also said that Mr. Palmer did not know about the automaker’s plans for his resignation from the post of CEO and declined to comment.

 If Tobias Moers really takes over as CEO of Aston Martin, he will have to give up the post of head of Mercedes-AMG. There is no doubt that such a step will benefit the British brand. It is likely that the relationship between Mercedes and Aston will be strengthened, as the 107-year-old British manufacturer is already using the AMG V8 engines in several of its models in recent years.

Not so long ago, our publication wrote that Land Rover began testing the three-row version of the Range Rover Evoque. The British automaker began testing the updated crossover Range Rover Evoque with seven seats (three rows of seats).