Aston Martin to undergo management shakeup, FT says

Iconic publicity still for Goldfinger with Sean Connery leaning against the Aston Martin DB5.

Aston Martin, the British maker of luxury sports cars, will see a management shakeup, the Financial Times reported.

Current CEO Andy Palmer will depart the company and be replaced by Tobias Moers, the head of Mercedes-Benz’s AMG performance arm, the FT said, citing two people familiar with the plans it didn’t identify.

Aston Martin was sold by Ford Motor Co. in 2007 and has run into a series of financial challenges since. The company is best known for its association with the James Bond film series produced by Eon Productions.

The announcement of the change is scheduled for Tuesday, the FT said.

Peter Campbell, the FT writer who did the story, said on Twitter that Aston Martin later issued a statement that it “confirms that it is reviewing its management team and a further announcement will be made as and when appropriate”.”

Palmer joined Aston as CEO in 2014 from Nissan Motor Co. Earlier this year, Lawrence Stroll, described by the FT as “a Canadian billionaire with a background in motor racing and luxury fashion labels,” led a financial rescue of Aston Martin.

A variety of Aston Martin models, including replicas of the DB5, will appear in No Tie to Die. The company has been part of the Bond series since the original DB5 was in 1964’s Goldfinger.