Tobias Moers' tenure is coming under scrutiny thanks to underwhelming results.
Aston Martin is an iconic brand. The British automaker has always been a symbol of style and elegance, but like any other company, the goal is not just to look good but also to make money. The marque has had a troublesome few years of late, which is why Tobias Moers, formerly of Mercedes-AMG, was brought in to revitalize the marque. He joined the automaker in August of 2020 and has since helped keep the brand alive, but Aston Martin is still not in the best financial position. Autocar reports that the man may soon be shown the door. Sadly, it doesn't appear to be a case of if, but when.
Aston Martin this morning announced that it would miss its EBITDA (earnings before interest, taxes, depreciation, and amortization) target by about £15 million ($20.3 million). This is a massive deficit, and when asked whether Moers still held the confidence of stakeholders, a spokesperson gave the generic "Aston Martin doesn't comment on speculation" response. Numerous sources have apparently claimed that Moers' replacement is being sought out, and a potential candidate has already been approached. Moers hasn't been in the job for long, and although he quickly canned the idea of developing an in-house V6 and shelved plans for a family of electric cars, one big issue has stunted the company's progress.
The on-again, off-again Valkyrie project took an exceptionally long time to deliver its first customer car and is still not done with delays. The hypercar is a technological tour de force, and if Aston wants the respect of its peers, it needs to get this halo car right. Unfortunately, perfecting something as complex as this is highly resource-intensive, and Moers' job was not made any easier by the loss of human resources. Sources claim that "more than half of the company's senior leadership team" has left since Moers' arrived.
Still, it would be folly to lay the blame for Aston Martin's troubles solely at the CEO's feet. On arrival, Moers described the automaker's situation as "worse than I thought, about as bad as it could be." Vehicles like the DBX have helped steady the ship, but clearly, more needs to be done. We'll keep you updated on the situation as more information comes to light.