One source told Autocar that more than half of the company’s senior leadership team had left since Moers took the helm of the firm, suggesting his hands-on leadership style had led to significant tensions. While the fact a substantial number of personnel have departed is backed up by searches on LinkedIn, exact percentages could not be verified by Autocar.
Shortly after taking over the role, Moers described Aston’s position as, “Worse than I thought, about as bad as it could be.” He is said to have clashed with his teams repeatedly as he tried to impose his vision for the firm’s future.
Although Aston’s financial results have been more positive in recent times, with revenues near tripled year-on-year in 2021, chiefly buoyed by sales of the DBX SUV developed under Palmer’s watch, and which accounted for more than half of sales, substantial loan repayments still held back its financial performance last year.
This morning’s trading update gave notice that it had missed its forecasts for 2021, with the final figures set to be formally confirmed next month.
Aston Martin’s share price has fallen almost 90% since the company was floated in 2018 and the potential loss of the firm’s boss is likely to be regarded as another setback for Stroll’s ambitions to return the firm to profitability and grow it into being regarded as Britain’s Ferrari.
Details of Moers’s likely successor remain fluid according to Autocar’s sources.
Additional reporting Dieter Rencken