British sports car manufacturer Aston Martin is replacing its CEO with Tobias Moers, currently at Daimler. The current CEO, Andy Palmer, tried to improve sales but hasn’t been successful. A Wall Street Journal article refers to the move as a way “to resuscitate a storied brand that has been on life support.”

The company’s media statement includes the usual quotes from the board chair and the outgoing and incoming CEOs:

Tobias Moers said: “I am truly excited to be joining Aston Martin Lagonda at this point of its development. I have always had a passion for performance cars and relish the chance to work for this iconic brand which I was close to on the technical side at the beginning of the partnership between the two companies. Following the arrival of Lawrence, as Executive Chairman, the significant investment from his Yew Tree Consortium, the completion of the equity raise and the reset, I believe that there is a significant opportunity to harness the strengths of the business to successfully deliver the planned product expansion and brand elevation. I am looking forward to working with Lawrence and the whole Aston Martin team to build a stronger business for our customers, our employees, our partners and our shareholders.”
 
Andy Palmer said: “It has been a privilege to serve Aston Martin Lagonda for almost six years. The launch of many new products including the new DBX demonstrates the dedication and capability of our employees. I would like to thank my management team and all the staff for their hard work and support, particularly during the challenges presented by COVID-19. I am proud of you all and it’s been an honour to work with you.”

Image source.

Discussion:

• In what ways is the Aston Martin CEO announcement typical? How does it differ from similar CEO change announcements?

• Read the statement for writing style. What observations do you make? Do you notice any differences between this statement, for a British company, and those for other companies?