Aston Martin Lagonda has confirmed the appointment of Mercedes-AMG boss Tobias Moers as the luxury automaker's new top man.

Moers, 54, will take assume his new role at Aston's headquarters in Gaydon, Warwickshire as of August 1 while former CEO Andy Palmer has stood down with immediate affect.

Palmer's days were numbered following Aston Martin's financial restructuring spearheaded by Canadian billionaire and Racing Point owner Lawrence Stroll, the company's revamping coming on the back of dwindling sales and the collapse of its share price.

The company has appointed Keith Stanton, currently vice president and chief manufacturing operations officer, as interim chief operating officer to support the executive chairman, Lawrence Stroll.

"The board has determined that now is the time for new leadership to deliver our plans," Stroll said in a company statement released on Tuesday.

"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 long-standing 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."

As a reminder, the Aston Martin name will return to Formula 1 next season as a result of its partnership with Racing Point F1.

Gallery: The beautiful wives and girlfriends of F1 drivers

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.

Recent Posts

Sao Paulo GP: Saturday's action in pictures

Saturday's proceedings were cut short due to a heavy rain storm rolling into Sao Paulo…

52 mins ago

Sao Paulo GP qualifying postponed after repeated delays

The FIA has postponed Saturday’s Sao Paulo Grand Prix qualifying session due to adverse weather…

1 hour ago

McLaren: Team orders always ‘make life difficult for ourselves’

McLaren's successful 1-2 finish in the Brazilian Sprint race came with a dose of complexity,…

4 hours ago

Verstappen demoted to P4 following VSC infringement in Sprint

Max Verstappen has been demoted from third to fourth in the final standings of Saturday’s…

4 hours ago

Norris thanks Piastri for handing Sprint win, but not ‘proud’

Lando Norris secured victory in Saturday's Sprint event in Sao Paulo thanks to a McLaren…

6 hours ago

São Paulo GP: Norris handed sprint win by Piastri

McLaren clinched a valuable 1-2 sweep of the São Paulo sprint race, with polesitter Oscar…

7 hours ago