Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
    • Browse photos from the 2021 awards ceremony
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Battery testing center for large battery packs and more
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automakers
January 07, 2022 05:46 AM

Aston Martin CEO may be replaced, reports say

Automaker has approached possible successor, magazine says

Nick Gibbs
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Aston Tobias Moers

    Moers, a former head of Mercedes-AMG, has been Aston Martin CEO for less than two years.

    LONDON -- Aston Martin is seeking a replacement for CEO Tobias Moers because of the automaker's continuing financial woes, reports said.

    Moers, a former head of Mercedes-AMG performance division, has held the role for less than two years.

    A potential candidate for the CEO job has been approached, according to Autocar motoring magazine, which cited unnamed sources but did not name the candidate. Bloomberg reported that Steven Armstrong, a former chairman of Ford Europe, has been approached about the CEO post.

    Aston Martin denied that Moers will be replaced.

    "Aston Martin’s Executive Chairman, Lawrence Stroll, has gone on the record to dismiss these reports as categorically not true and that he is absolutely not engaged whatsoever in looking to replace Tobias," the automaker told Automotive News Europe.

    Aston Martin's precarious financial position was further weakened with on Friday when the automaker said it sees annual adjusted core earnings to be about 15 million pounds ($20 million) lower than expected due to delays in shipments of its 2.4 million-pound ($3.3 million) limited-edition Valkyrie hypercars last year.

    The automaker shipped just 10 Valkyrie cars in the fourth quarter, lowering adjusted Ebitda by about 15 million pounds.

    Aston Martin said it still reached its goal of delivering 6,182 cars to dealers last year thanks to robust demand for the DBX, its first SUV. The total was up 82 percent from the year before when the company drastically cut back production to reduce dealer stock levels.

    Aston Martin will publish full-year results on Feb. 24. In November, the automaker posted a third-quarter pre-tax loss of 97.9 million pounds ($130.01 million).

    Moers, a German engineer, became Aston Martin CEO on Aug. 1, replacing Andy Palmer.

    Moers has overseen the departure of a number of executives from the automaker.

    In December, its chief financial officer, Kenneth Gregor, said he would leave the company after 18 months in the role, citing personal reasons.

    Other significant departures since Moers' arrival include head of special operations, David King, who moved to Fisker, and vehicle attributes chief Matt Becker, who left to join McLaren Automotive.

    Aston Martin is majority owned byStoll, a Canadian billionaire. Stoll is seeking to rebuild the company following a financial crisis caused in part by the pandemic in 2020.

    Bloomberg contributed to this report

    Related Article
    Aston Martin said to gauge Ford executive's interest in becoming CEO
    Aston Martin's new CEO will aim to repeat Mercedes-AMG success
    RECOMMENDED FOR YOU
    Why Hyundai's hot streak in Europe is expected to continue despite signs of softening demand
    Recommended for You
    Hyundai Europe CEO Michael Cole 2022
    Why Hyundai's hot streak in Europe is expected to continue despite signs of softening demand
    Mercedes Benz
    Unity game software to power new Mercedes infotainment domain
    Baidu Jidu EV
    Baidu CEO: EV unit Jidu's autonomous driving tech will be jump ahead of Tesla
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
        • Browse photos from the 2021 awards ceremony
    • More
      • Publishing Partners
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Battery testing center for large battery packs and more
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us