(Reuters) – Aston Martin chief executive Andy Palmer will be replaced by current Mercedes-AMG CEO Tobias Moers as part of a restructuring to be announced on Tuesday, the Financial Times reported on Sunday.
When questioned by Reuters, the British automaker, known to be the favorite brand of secret agent James Bond, confirmed by email that he was carrying out a review of his management team, without mentioning the fate of Andy Palmer.
Neither Andy Palmer, who has been in this position since 2014, nor Tobias Moers responded immediately to Reuters' requests for comment.
The 107-year-old automaker announced significant losses in the first quarter last week due to lower sales due to the coronavirus crisis.
In January, Canadian billionaire Lawrence Stroll bought an estimated 20% stake in the company for almost $ 263 million as the struggling automaker sought to raise funds.
(Aishwarya Nai, French version Elizabeth Pineau)