Aston Martin chief Tobias Moers quits after staff exodus



Aston Martin has aspired for many years to be more like Ferrari and become a major lifestyle brand. Last year Mr Stroll said he wanted Aston Martin to have “the strongest profile of any luxury automotive brand” and praised Ferrari’s business model of which he said had a “great deal of similarities” to his own company’s.

Mr Felisa, who is currently a non-executive director of the company and a veteran in the automotive industry, will also be appointed as executive director with immediate effect.

“He is one of the most highly regarded leaders and engineering professionals in the high-performance luxury sports car sector,” the company said.

Mr Moers’s departure comes after chairman Lawrence Stroll previously denied claims that he was looking to replace him.

In January, a spokesman said that “he was absolutely not engaged whatsoever in looking to replace Tobias”.

Harry Barnick, an Analyst at Third Bridge, said the shift to electric vehicles was “a material drain on cash” as the company’s debt pile continues to loom over its performance.

“With inflation soaring, [profit] margins are under significant pressure for the full year,” he added.

“Aston Martin could struggle to pass on these costs to the consumer due to its ageing line-up.”

Third Bridge estimated that almost £200m is needed to update one car model.



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