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Philippe Rossier
![Does the AMG boss take over now? Tobias Moers (54), head of the Mercedes sports subsidiary AMG, is to become the new CEO of Aston Martin.]()
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1/9
Does the AMG boss take over now? Tobias Moers (54), head of the Mercedes sports subsidiary AMG, is to become the new CEO of Aston Martin.
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Philippe Rossier
![Under his direction, Mercedes-AMG had expanded the model range since 2013, introduced the first electrified drives and massively increased sales.]()
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2/9
Under his direction, Mercedes-AMG had expanded the model range since 2013, introduced the first electrified drives and massively increased sales.
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MAX EAREY
![Moers will inherit Andy Palmer (56). The Brit switched from Nissan to the traditional British brand in 2014.]()
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3/9
Moers will inherit Andy Palmer (56). The Brit switched from Nissan to the traditional British brand in 2014.
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DOMINIC FRASER
![The latest model in the Normal range is the Aston Martin Vantage Roadster, which comes to Switzerland in summer from CHF 162,900.]()
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8/9
The latest model in the Normal range is the Aston Martin Vantage Roadster, which comes to Switzerland in summer from CHF 162,900.
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RVT3
![Aston Martin is also launching its first SUV this year with the DBX.]()
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9/9
Aston Martin is also launching its first SUV this year with the DBX.
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Aston Martin’s bang: CEO Andy Palmer has to vacate his chair; from August, the previous head of Mercedes-AMG, Tobias Moers (54) will take over for him. With the change of management, the British sports car manufacturer is to come back into calmer waters after the rapid ups and downs of the past six years.
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Just two years ago, the future looked bright for Aston Martin: after long years of stagnation, things were going well again for the traditional brand. Fresh money from Italy and Kuwait caused euphoria, the Mercedes sports subsidiary AMG entered as a technology partner and with the completely new DB11 the renewal of the old model range was finally heralded.
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Success maker: CEO Andy Palmer (56), who switched from Nissan to Aston Martin in 2014. He even wanted to celebrate the resurrection of the brand, which was often on the brink of an abyss, by going public and collecting more money – among other things for three hyper sports car models that were created in cooperation with the Swiss Aston Martin branch in St. Gallen. And he wanted the change of image: Aston Martin as the eternal James Bond brand – Palmer could no longer hear it. He saw Aston Martin on a par with Ferrari and thus high up in Auto Olympus. The time had come in October 2018; The Aston share went public for 1900 British pence.
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Dive share price
Now it stands at 35 pence. And Andy Palmer has to leave Aston Martin. Since the IPO, the stock has been descending steadily; The costs for the brand’s upcoming SUV debut with the DBX got out of hand and sales reached a low point with 578 cars in the first quarter – also due to Corona. Last year, Aston’s losses were around EUR 112 million.
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In the past few weeks, Aston Martin has been looking for ways out of the crisis with big names: Canadian Lawrence Stroll (60), a partner in the Formula 1 team Racing Point, which is to start in the coming season under the name Aston Martin , dabbed around 600 million euros. The Swiss billionaire Ernesto Bertarelli (54) bought 3.4 percent of the company’s shares in April and also the Austrian Toto Wolff (48), Formula 1 team boss at Mercedes, invested and owns almost one percent of Aston Martin. The investment promptly fueled rumors that Wolff might be drawn to Aston Martin for the coming season.
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New CEO to come from Mercedes-AMG
The close Mercedes integration should have played a role in the change of leadership. Even if the engineer Tobias Moers was born in Freiburg (D) in Baden: He has been working for Mercedes-AMG in Swabia since 1994 and in 2013 succeeded today’s Mercedes CEO Ola Källenius as managing director of the Mercedes sports subsidiary. Moers expanded the model range, successfully launched electrified drives and quadrupled sales. He stayed down to earth and sometimes went down to production to quietly put together an AMG engine for himself.
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Today, Mercedes-AMG is considered the gold gem in the Daimler group in the industry. Not a bad track record to get Aston Martin back on track.
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