RE: FT Tobias Moers19 Dec 2020 19:39
Mr Moers was parachuted into the role from head of Mercedes’ AMG, the high performance subsidiary, over the summer by Aston’s chairman Lawrence Stroll, who led a rescue of the business earlier in the year.
Mr Stroll aims to restore the marque’s luxury credentials, and has installed a team he believes will help the business begin generating positive cash by 2023.
His arrival at the company this year also coincided with a large-scale clear-out of its executive team.
As well as a new chief executive and chairman, within the last year the company has replaced almost every top flight position, including the most senior executives in finance, sales, product planning, operations, engineering and the US, its largest international market.
The company has pushed back its first battery electric model, which will now be an Aston Martin instead of a Lagonda, the luxury sub-brand that is part of the group. The company has yet to reveal its new plans for the Lagonda nameplate.
“The electric car has to be an Aston Martin,” said Mr Moers, “because if you bring a new brand to life for electric vehicle cars, that’s wrong in my perspective.”
Sales of its DBX sport utility vehicle have been gaining “momentum” in China, which is typically a weak market for sports cars despite having one of the largest global pools of luxury car buyers, Mr Moers said.