Aston Martin's New CEO To Come From Ford?

Rumor / Comments

Aston Martin's chairman has reportedly already approached the candidate.

Amid previous reports regarding the troublesome production of the Aston Martin Valkyrie, a new rumor suggests that the current chairman of Aston Martin, Lawrence Stroll, has approached Ford executive Steven Armstrong for the current CEO position. While not an official offer, it is said that this interaction was merely to gauge the possible interest, based on information sourced by a selection of unnamed insiders familiar with the matter.

Bloomberg reports that Stroll has reached out to the former Ford Europe chairman twice in the last month. Considering that these are preliminary discussions, no official offers have been made and it is stated that Armstrong has not decided to leave his current company. He has been with Ford for the last 25 years and currently holds the transformation officer position for South America and India.

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With these rumors regarding Stroll's continuous approach of a new CEO, we wonder what the future of former Mercedes-AMG head and current Aston Martin boss Tobias Moers entails. Moers was appointed as the head of Aston Martin just a few months after Stroll injected a significant investment into the brand as a rescue measure in 2020. Stroll, however, has come out to denounce a previous report that hinted at the company having desires to replace Moers.

Regarding this topic, a spokesperson for Aston Martin and Lawrence Stroll declined further interviews and provided no further comments while Armstrong could not be reached for comment. The aforementioned report regarding the dismissal of Moers comes after the firm announced its concerning EBITDA (earnings before interest, taxes, depreciation, and amortization) deficit.

Tobias Moers/LinkedIn
Aston Martin
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Just last week, the brand confirmed that its fourth-quarter earnings will be $20 million less than expected due to the delayed roll-out of the Valkyrie supercar. Just 10 of these units were shipped before the year came to an end which was below its initial targets. Delays regarding the Valkyrie are accredited to its complex assembly process and Moers has previously compared this product to the assembly of a Formula One car.

Blame for this upset should not be rested on Moers alone, given the company's shape when he inherited the role. Since his arrival, he has also been subjected to steering the ship while more than half of the company's senior leadership team has departed. It's not an easy job, but at this level, results are paramount to your longevity. Hopefully for Moers, a little more time will be afforded before he faces the chopping block.

Aston Martin
Aston Martin
Source Credits: Bloomberg

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