The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Aston Martin Lagonda Global Holdings plc
Appointment of new Chief Executive Officer
The Board of Aston Martin Lagonda Global Holdings plc (the "Company") announces that following discussions, Dr Andy Palmer and the Board agreed that he would step down as President and Group Chief Executive Officer and as an Executive Director of the Company on 25 May 2020.
The Board announces the appointment of Tobias Moers, as Chief Executive Officer. Tobias, 54, will be appointed to the Board as an Executive Director and will take over from Dr Andy Palmer. He will be based at the Company's headquarters in Gaydon, Warwickshire and will join on 1 August 2020.
In the interim period Keith Stanton, currently Vice President and Chief Manufacturing Operations Officer, is appointed interim Chief Operating Officer to support the Executive Chairman, Lawrence Stroll.
Tobias is a highly successful and experienced automotive professional having spent more than 25 years in senior roles at Daimler AG, the German-based global automotive OEM. He is currently Chairman of the Management Board and Chief Executive Officer of Mercedes-AMG GmbH, a position he has held since October 2013. He is also acting Chief Technical Officer. He has established a successful track record of implementing business transformation in a competitive environment.
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. Tobias' 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.
Lawrence Stroll, Aston Martin Lagonda Executive Chairman said:
"The Board has determined that now is the time for new leadership to deliver our plans. On behalf of the Board, I would like to thank Andy for his hard work, personal commitment and dedication to Aston Martin Lagonda since 2014. In that time the Company has successfully renewed its core sports car range, with the DB11, Vantage and DBS Superleggera and has brought the brand's first SUV, DBX to a point of readiness for deliveries to start in the summer. Furthermore, the development of the era-defining Aston Martin Valkyrie hypercar has paved the way for the mid-engined range to come. I would also like to recognise his leadership through the current challenges and uncertainties presented by COVID-19.
I am delighted to welcome Tobias to Aston Martin Lagonda. He is an exceptionally talented automotive professional and a proven business leader with a strong track record during his many years at Daimler AG, with whom we have a longstanding and successful technical and commercial partnership, which we look forward to continuing. Througho
Aston Martin Lagonda (the "Company") notes recent press speculation.
The Company confirms that it is reviewing its management team and a further announcement will be made as and when appropriate.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is being released on behalf of Aston Martin Lagonda Global Holdings plc by Catherine Sukmonowski, Company Secretary.
I'm now logged in after a lit of pi ssing about
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You might be right I got in at 297 but happy to be in at these levels
400p just been paid.
Nice buy on the dip this morning
Mm's need shares for later on today when we get out RNS
Simple.
virgin Aus now in administration
Hat, Its all well having oil stored off shore, I was reading article last night that offshore oil storage is fast running out which is middle of May, and also the cost is sky rocketing as offshore storage is cashing in on the supply and demand for storage.
Opec US Russia will be forced to lower production for one basic reason no where to put it
Up to 6 waves of covid 19 in the next year. Sky news
That's a lot of tests.
Blue moon I did the same yesterday twice. I also have 10k
I'll be topping up again today if I can.
Our tests will carry on being made for mouths/years, stocks don't go up and up mm playing games but more than likely pi taking profits because look where NCYT has come from in as many weeks.
By end of summer I'm hoping we have a 0 on the end of our SP.
Good luck all.
L2 15k @ 500p
Is it just me who is in need of a fat gin to get myself to sleep.
Tomorrow going be amazing
I can see this smashing 630p tomorrow by 11am.
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Happy duckin days
I've got 380
Just been quoted 363 for 12k
Sea of blue.
TomE top slicing simple.
Also mms needs shares for the next RNS