Aston Martin confirms AMG's Moers as new CEO

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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.

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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.

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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.