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Aston Martin CEO Andy Palmer to leave in favor of AMG chief Tobias Moers

Aston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday. The luxury carmaker said in an emailed statement that it is reviewing its management team but declined to comment on Palmer's fate. Palmer and Germany's Daimler, which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, also declined to comment. The Financial Times newspaper had reported earlier that the Aston Martin chief was going to leave as part of a shake-up of its leadership, with an official announcement expected on Tuesday. Palmer had not been informed of the upcoming announcement, the newspaper reported. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018. The 107-year old British luxury carmaker earlier this month posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. The company has been banking on its sport utility vehicle to drive sales in a new segment, and said production was on track. In January, dire conditions forced the company to bring in Canadian billionaire Lawrence Stroll who bought a roughly 20% stake for nearly 200 million pounds ($263 million), as the ailing carmaker sought to raise funds. The coronavirus pandemic and shutdowns caused by it have hit demand and forced factories around the world to suspend production, negatively impacting many industries, including car manufacturers. "We were obviously fairly significantly hit by COVID-19, starting with China in January but more clearly in what we saw as it came across towards Europe and the United States," Palmer told Reuters earlier in May. Related Video:

Henrik Fisker presents 'Thunderbolt,' a take on the Aston V12 Vanquish

Henrik Fisker's name no longer even appears on the vehicles from his former brand, but since leaving the company, the man is slowly transitioning back into what made him famous in the first place: design. Fisker has already put pen to paper for a concept motorcycle and a carbon-fiber-bodied Ford Mustang. For his latest project, Fisker has made his unofficial return to Aston Martin to create a one-take on the Vanquish called the Thunderbolt. Debuting its carbon fiber skin at the 2015 Amelia Island Concours d'Elegance, Fisker keeps his transformation of the Vanquish far more subdued than his recent work on the Mustang. He enlarges the grille to take up the entire front end but retains Aston Martin's traditional shape, and the hood receives a power dome with triangular air intakes on each side. In profile, this is still clearly an Aston just sharper and leaner. It's also lowered 0.6 inches and rides on 21-inch wheels. A big change comes at the back where Fisker adds wraparound rear glass and transforms the taillights into thin strips of LEDs. The interior offers a mix of high-end leather and more carbon fiber, plus an 11.6-inch Curved Control Screen from Panasonic. Unfortunately, even if you have the means and want to buy this Thunderbolt, it's not for sale. However, Galpin Aston Martin is taking limited orders for a tweaked version with a revised front end that includes different intakes on either side of the grille and without the Panasonic infotainment screen. As designer for the Aston Martin DB9 and V8 Vantage, the Thunderbolt can be thought of as Fisker's return to the British brand, albeit in an unofficial and extremely limited way. Still, it's fascinating to get a glimpse at what the marque's models might look like, if he were still there. Related Video: HENRIK FISKER UNVEILS HIS LATEST DESIGN STUDY, A TIMELESS GT COUPE, AT 2015 AMELIA ISLAND CONCOURS D'ELEGANCE One-Off V12 Vanquish-Based Coupe Features Carbon Fiber Coach-Work and World's First Panasonic Curved Screen Infotainment System Amelia Island, Florida (March 14, 2015) – Henrik Fisker today took the wraps off of his latest design study, the "Thunderbolt," at the 2015 Amelia Island Concours d'Elegance. Designed by Henrik Fisker as a powerful GT coupe; this is his personal interpretation of how his Aston Martin V12 Vanquish coupe could look like.

Aston Martin and Daimler continue talks on SUV project, CEO required

The Aston Martin Lagonda SUV concept revealed at the 2009 Geneva Motor Show didn't earn the plaudits the company is used to when it reveals new models, and it has lived an uncertain life ever since. Thought to have been scrapped along with the entire revival of the Lagonda brand, then thought to have been resurrected due to Chinese, Middle Eastern and Russian demand, another year passed before we heard more definitive talk about an Aston Martin expansion when AutoCar reported that the Lagonda could be built on one of Mercedes-Benz's AMG SUV platforms.
A report in Automotive News Europe indicates plans have gotten serious, its unnamed sources saying that the English carmaker is talking to Daimler "to extend their cooperation to building an SUV." Neither Daimler, Aston Martin nor Investindustrial, the managing partner among Aston Martin's ownership consortium, would comment. But with Investindustrial having pledged to expand the range, competitors like Bentley, Maserati and Lamborghini getting into the SUV racket and clear demand from current and future customers, it's easy to believe Aston Martin is working hard to put the pieces together.
One further potential bump on the road to an Aston SUV is the company's search for a new CEO. Ulrich Bez relinquished to top spot at the company at the end of 2013, and Aston reportedly will not finalize its model strategy without a new CEO in place.