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Aston Martin Appoints Daimler's Tobias Moers As CEO, Succeeding Andy Palmer

Car manufacturer Aston Martin Lagonda Global Holdings plc (AML.L) announced Tuesday the appointment of Tobias Moers as Chief Executive Officer.

Tobias, 54, succeeds Andy Palmer, who agreed to step down as President and Group Chief Executive Officer and as an Executive Director of the Company on May 25.

Tobias will be appointed to the Board as an Executive Director, and will join on August 1.

In the interim period Keith Stanton, currently Vice President and Chief Manufacturing Operations Officer, is appointed interim Chief Operating Officer to support the Executive Chairman, Lawrence Stroll.

Tobias is currently Chairman of the Management Board and Chief Executive Officer of Mercedes-AMG GmbH, affiliated to German automaker Daimler AG, since October 2013. He is also acting Chief Technical Officer. He spent more than 25 years in senior roles at Daimler.

Separately, Aston Martin Lagonda announced that directors Richard Solomons, Imelda Walsh and Tensie Whelan stepped down from the Board on May 23. They were not planning to stand for re-election at the upcoming Annual General Meeting on June 3.

Further, the company said Peter Espenhahn will assume the Chair of the Audit and Risk Committee and will join the Remuneration Committee and Nomination Committee.

Matthew Carrington will assume the Chair of the Remuneration Committee and will join the Audit and Risk Committee and Nomination Committee.

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