New Direction
Mercedes-AMG CEO in dynamic leap to Aston Martin
A move that has been brewing for some time, albeit behind closed doors, sees Mercedes-AMG CEO, Tobias Moers leave the German giant to take up a new role as CEO and Executive Director of Aston-Martin, replacing Dr Andy Palmer who left the company's board on Monday.
Aston Martin has said that Moers, 54, will be based at the company’s headquarters in Gaydon, Warwickshire and will join officially on 1 August 2020. The British automakers’ share price has been in free fall since October 2018, and with huge first-quarter losses reported in 2020 due to COVID-19, Andy Palmer opted to resign and vacate his position.
Tobias though, has had immense success at Mercedes-AMG, being the man that made AMG into the brand it is today. Aside from holding senior roles at Daimler AG for more than 25 years, his tenure at AMG began in October 2013, and has overseen 6 Formula 1 Constructors titles, the launch of the AMG GT sports car range, the proliferation of AMG’s new generation compact cars, as well as the AMG One hypercar.
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.
Interestingly, another AMG boss has also been linked with a move to Aston Martin following a sizeable investment in the group. Rumours have since been circulating that Mercedes-AMG F1 Team boss; Toto Wolff will be joining the group and heading up their F1 division in the not too distant future. As a refresher, Aston Martin will be returning to the Formula 1 grid in 2021, as the rebranded Mercedes-AMG-powered Force India F1 team, which is owned by Canadian billionaire, Lawrence Stroll, who is also Executive Chairman of Aston Martin Lagonda.
Regarding Moers move, Lawrence Stroll was quoted as saying, “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. Throughout his career he has delivered product expansion, strengthened brand positioning and improved profitability. He is the right leader for Aston Martin Lagonda as we implement our strategy for the business to achieve its full potential. Our ambition for the company is significant, clear and only matched by our determination to succeed.
All of my and Tobias’ energy will be dedicated to building on the Company’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.”
On his new challenge, Tobias Moers has said, “I am truly excited to be joining Aston Martin Lagonda at this point of its development. I have always had a passion for performance cars and relish the chance to work for this iconic brand which I was close to on the technical side at the beginning of the partnership between the two companies. Following the arrival of Lawrence, as Executive Chairman, the significant investment from his Yew Tree Consortium, the completion of the equity raise and the reset, I believe that there is a significant opportunity to harness the strengths of the business to successfully deliver the planned product expansion and brand elevation. I am looking forward to working with Lawrence and the whole Aston Martin team to build a stronger business for our customers, our employees, our partners and our shareholders.”
Also worth a look: the Mercedes-AMG A Class and the Mercedes-AMG G Class.
FAQ
Q: Who is Tobias Moers and why is his move to Aston Martin significant?
Tobias Moers is the 54-year-old former CEO of Mercedes-AMG who transformed the performance division into a powerhouse over his 7-year tenure starting in 2013. His move to Aston Martin as CEO is massive because he more than doubled AMG's product portfolio, quadrupled sales numbers, and oversaw 6 Formula 1 Constructors' titles, making him the perfect bloke to rescue Aston Martin from its financial mess.
Q: What challenges will Tobias Moers face at Aston Martin?
Moers inherits a proper nightmare situation with Aston Martin's share price in freefall since October 2018 and massive first-quarter losses in 2020 due to COVID-19. He'll need to apply his proven magic formula of expanding the product range, improving manufacturing efficiency, and building brand value like he did at Mercedes-AMG.
Q: Will Toto Wolff also join Aston Martin from Mercedes-AMG?
Rumours are swirling that Mercedes-AMG F1 Team boss Toto Wolff might follow Moers to Aston Martin to head up their F1 division, especially following Mercedes' sizeable investment in the British marque. Nothing's confirmed yet, but it would be another massive coup for Aston Martin if they land both AMG heavyweights.
Q: What makes Tobias Moers qualified to turn around Aston Martin?
Moers has over 25 years of senior experience at Daimler AG and proved his turnaround skills by transforming Mercedes-AMG into a global performance powerhouse. Under his leadership, AMG delivered significant margin expansion, launched game-changing models like the AMG GT sports car range and AMG One hypercar, and built a clear electrification strategy for the future.
Q: When does Tobias Moers officially start at Aston Martin?
Moers officially joined Aston Martin as CEO and Executive Director on 1 August 2020, working from the company's headquarters in Gaydon, Warwickshire, replacing Dr Andy Palmer who resigned from the board.
Should You Buy It?
Well, this is a bit of a curveball since we're talking about executive musical chairs rather than actual cars you can buy. But if you're in the market for a Mercedes-AMG vehicle under Moers' legacy, the AMG A35 4MATIC at around R899,000 is your entry ticket to the AMG club he built. For those with deeper pockets, the AMG GT 63 S 4MATIC+ at roughly R3,200,000 represents the pinnacle of his sports car vision. The verdict? If you can afford it, absolutely buy into the AMG brand now, because Moers turned it into a performance powerhouse that's only getting stronger. The best AMG under R1,000,000 in SA is definitely the A35, giving you 225kW of turbocharged fury and proper AMG DNA without breaking the bank completely.
