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Aston Martin confirms Mercedes-AMG boss Moers to replace CEO Palmer

Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer, who stepped down on Monday. The Financial Times newspaper reported over the weekend that Palmer would step down, before he had been informed. A source familiar with the situation had also confirmed to Reuters the planned move. "The board has determined that now is the time for new leadership to deliver our plans," Lawrence Stroll, Aston Martin Lagonda's Executive Chairman said. The company said Moers, who will be based at its headquarters in Warwickshire, had built a reputation for transforming businesses in tough environments during his 25 years in senior roles at Daimler. Germany's Daimler AG owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines. "Under Tobias’ leadership, Mercedes-AMG has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment," Aston Martin said in a statement. "TobiasÂ’ focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness." Aston Martin 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. "All of my and TobiasÂ’ energy will be dedicated to building on the CompanyÂ’s inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become one of the pre-eminent luxury car brands in the world," Stroll said. Related video:

13-year-old boy swipes dad's Mercedes, drives across Europe

After an argument with his adoptive parents that resulted in them taking away his mobile phone, an angry 13-year-old boy ran away from his home in Italy and headed straight to Poland to meet his biological sister. But instead of taking the train or hitching a ride, like most on the run, the young man (an accomplished go-kart racer and car enthusiast) grabbed the keys to his father's Mercedes-Benz and jumped behind the wheel for an impromptu road trip.
With less than 200 euros (about $270) in his wallet and a passport in his pocket, the youngster managed to put more than 500 miles between himself and his distraught parents, crossing two international borders in the process, before German police nabbed him just shy of the Polish border. According to reports, the vehicle was tracked - it wasn't his driving that alerted authorities to his location.
Reunited with his mother and father, who traveled to Germany to retrieve both their son and the vehicle, the young man apologized and acknowledged his error. As a result of his actions, social workers will increase checks on the family and we can be sure his parents are now hiding the keys.

McLaren Racing will return to Mercedes F1 engines from 2021

SOCHI, Russia — McLaren will be reunited with Mercedes engines from the 2021 season as the former champions go back to using the German manufacturer's power units in their bid to return to the top. The Woking-based team are currently supplied by Renault, having joined forces with the French company last year. They will see out that deal, which runs until the end of 2020, before making the switch back to Mercedes as part of a long-term agreement until at least 2024. "We are delighted to welcome McLaren back to the Mercedes-Benz racing family with this new power unit supply agreement," said Mercedes' motorsports head Toto Wolff in a joint statement with McLaren issued at the Russian Grand Prix on Saturday. "We hope that this new long-term agreement marks another milestone for McLaren as they aim to take the fight to the sport's top teams, including our Mercedes works team." The McLaren-Mercedes partnership initially ran from 1995 to the end of 2014. It turned McLaren, enduring a slump after their heady days of dominance during the late 1980s and early 90s with Honda, into a force to be reckoned with once again. The combination won 78 races, a constructors' title and three drivers' titles with Mika Hakkinen (1998, 1999) and Lewis Hamilton who raced to his first Formula One title with the team in 2008. McLaren find themselves in a similar phase now, rebuilding after three dismal years with Honda, the Japanese manufacturer they rejoined forces with at the end of 2014 in a bid to recreate their dominance from 30 years ago. Fielding a fresh driver line up of British rookie Lando Norris and Spaniard Carlos Sainz, they have made big strides this year and are currently locked in a battle for fourth in the overall standings with Renault's works team. But they haven't won a race since the season-ending 2012 Brazilian Grand Prix, when they were still powered by Mercedes. "Renault has been instrumental to our Formula One recovery plan and a fantastic partner to McLaren Racing," said Zak Brown, chief executive of McLaren Racing. "This agreement is an important step in our long-term plan to return to success in Formula One." McLaren's new deal with the German manufacturer, whose power units have set the benchmark in Formula One's turbo-hybrid era, coincides with a planned rules overhaul aimed at leveling the playing field and creating better racing. The shake-up could be just what a team like McLaren need to make that final jump up to the top.