RE: https://www.ft.com/content/1b2269a6-e559-440a-823f-f78850ea517114 Jan 2022 17:57
"I feel for Mr Moers. Finally we have a CEO with the aggression and the understanding and vision needed to save Aston Martin. I'm right behind him on destocking the dealers, increasing option spend, pushing up average sale prices and creating more derivatives of each model: all things that other manufacturers discovered years ago but wafted past Andy Palmer's leather-lined dream world. He also understands the need for bought in powertrain (and electrification) technologies, potentially expanding out to other areas like ADAS and E/E architectures and he has a world-class vision for digitalisation of the customer relationship journey. But - to deliver this strategy he has to fight three battles. First, there is the Palmer-era leadership team, which is probably the one that briefed Jim Holder against Mr Moers for today's Autocar article. It's right that they should be put under pressure to perform or leave. I've worked with some of them and wouldn't have invested in the business if they were allowed to drift along living on hope and debt. Second, the company he took over was in a real mess, financially and in product strategy. The debt is unbelievable and the product just doesn't cut it. Solving the latter in the face of the former is a big challenge. Then third, to add the icing on his layer cake of challenges, he has Mr Stroll looking down on him from on high. I understand that the F1 agreement was part of the deal to get Stroll's money and support, but it cuts off Aston's ability to monetise it's brand in F1 (all the money goes to Mr Stroll's company, as well as fees from AM - very cheeky) and it comes with Mr Stroll's insistence that AM changes course from aspirational Sports / GT, the goal of those who have been through the 911 ladder and want something equally subtle and useable but more exclusive, to facing head-to-head with Ferrari and Lamborghini in one of the most hotly contested high-end vehicle sectors. It's crazy, despite Lex stating this is what it must do. I fear less career-challenging offers may be circling Mr Moers."
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