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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:

Best compact SUVs of 2023 and 2024

Compact SUVs are now the go-to choice for family transportation. Actually, considering how popular they are, they have clearly moved beyond only family duty. With such popularity, though, comes an awful lot of competitors, and it can be difficult to figure out which one might be the best compact SUV for you.  It's important to note that by "compact SUV" we're talking about a specific segment. As we describe in our more comprehensive "Best small SUVs" list, there are also subcompact SUVs that vary widely in size amongst themselves, but are clearly smaller than the SUVs below. Frankly, today's segment of compact SUVs isn't exactly compact — some have more cargo space than vehicles that are considered midsize based on their exterior dimensions. They've all grown considerably over the years. While many lists out there just rattle off every vehicle available in a segment, we thought we'd be a bit more helpful and curate your shopping a bit with the top-recommended choices reviewed by Autoblog. We've included both mainstream and compact luxury SUV choices. Best compact SUVs of 2023 and 2024 2024 Honda CR-V Why it stands out: Best-in-class space; excellent hybrid powertrain; sharp interior style; Honda dependabilityCould be better: No lower-price base trim levels; no sporty or off-road niche models; no plug-in hybrid Read our full 2024 Honda CR-V Review Consider the CR-V the baseline for any compact SUV search, and look extra closely at the superb CR-V Hybrid option. Objectively speaking, it's tough to beat due to its massive cargo capacity, voluminous back seat, strong-yet-efficient engines, well-balanced driving dynamics, competitive pricing and features,  and well-regarded reliability. It's easy to see why it continues to be such a best-seller: for the vast majority of compact SUV buyers, and especially families, it checks every box. That's been the case for many years now, however. The all-new 2023 Honda CR-V changes things up by adding a bit more style and character, particularly in terms of its interior design and how surprisingly enjoyable the Sport and Sport Touring hybrid trim levels are to drive.

If you're a Daimler exec, you'll soon have to drive an EV

Luckily, for Daimler's "senior level" managers, the company has a lot of plug-in vehicle options. Lucky because "in the future," these managers will have to drive the company's electrified vehicles. This most likely means a plug-in hybrid – something like the C 350 e or the GLE 500 e 4MATIC – but it could also be the all-electric and peppy Smart ED or the B-Class EV. Board member Ola Kallenius said in a statement (available below) that this new policy, "We are continuing on the path of zero-emission driving with consistency. This is why we are making electric mobility an integral part of the everyday lives of our top management to set an example and to provide a clear role model." It's a big change from five years ago, when Daimler's director of fuel cell and battery drive development, Christian Mohrdieck, was willing to talk up the drawbacks EVs face. Even a year ago, Daimler CEO Dieter Zetsche explained the financial hardships involved in making EVs. But, EV technology continues to change, and so, perhaps, do the attitudes inside Daimler. As EV advocate Chelsea Sexton said on Facebook regarding this new policy, "This should be standard procedure in any automaker seeking a leadership role in the plug-in vehicle movement. Commitment starts at the top." Related Video: Electric Mobility: Daimler Management leads by example Daimler is once again setting a new milestone on the road to zero-emission driving: In the future managers will drive electrified company cars. Furthermore, Daimler is this year set to invest a further 30 million euros into extending the company's own charging infrastructure across many of its sites. This will also benefit employees, who have access to a growing range of vehicles with alternative drive systems. Stuttgart. It represents a further commitment from Daimler to an electric future for mobility: "We are continuing on the path of zero-emission driving with consistency", states Ola Kallenius, member of the Board of Management of Daimler AG responsible for Mercedes-Benz Cars Sales and Marketing, about the importance of the current initiative. "This is why we are making electric mobility an integral part of the everyday lives of our top management to set an example and to provide a clear role model." The agreement applies to the company's senior levels of management and focuses on plug-in hybrids.