'Aston Martin CEO may lose position after missing earnings target'

'Aston Martin CEO may lose position after missing earnings target'

07-01-2022 13:30 Last update: 13:48

Aston Martin may soon lose another key person within the team. CEO Tobias Moers risks losing his position by missing Aston Martin's 2021 earnings target.

Autocar reports that the delayed delivery of the Aston Martin Valkyrie may have major consequences for Moers. The profit target would be missed by fifteen million pounds. The website is said to have multiple sources confirming that a potential replacement has already been approached, but the Aston Martin spokesperson is not revealing anything.

When asked if Moers' position is secure, a spokesperson replied: "Aston Martin doesn’t comment on speculation." A source tells Autocar that more than half of the senior leadership team has left since Moers took up his role as CEO. His vision for the future is said to be very different from that of the rest of the team.

Setback for Stroll

Lawrence Stroll has invested heavily in Aston Martin. The disappointing figures are a setback for Stroll's ambitions. He wants to make the company profitable again and grow it into Britain's Ferrari. The plan is to become world champion within a few years. Recently, the team also lost major sponsor BWT and team boss Otmar Szafnauer.