Aston Martin replaces CEO

Daniel Craig and Aston Martin DB5 in a Skyfall publicity sill

Aston Martin, the British maker of luxury cars associated with James Bond films, said today it’s replacing its chief executive officer.

The new CEO will be Tobias Moers, 54, currently head of Mercedes-Benz’s AMG performance arm. He will join Aston on Aug. 1.

Moers replaces Andy Palmer, who joined Aston as CEO in 2014 from Nissan Motor Co.

Keith Stanton, currently vice president and chief manufacturing operations officer, will serve as interim CEO until Moers’ arrival.

Aston has experienced a series of challenges, including losses and a plunging stock price.

Lawrence Stroll, a Canadian billionaire, was the lead investor in a financial rescue of Aston Martin that took place in January. Stroll is executive chairman of Aston.

Over the past several years, Aston has talked about the need to diversify and be more than James Bond’s favored ride. But the company still finds itself dependent on its association with Bond. Aston provided multiple vehicles for No Time to Die.

Palmer took to Twitter to say good-bye.

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