Aston Martin Lagonda has overhauled its management team as it looks to electrification of its range of sports cars.
CEO Tobias Moers is standing down with immediate effect. He will be replaced by Amedeo Felisa a former CEO of Ferrari, who is currently a non-executive director of Aston Martin.
Amedeo has spent his career in automotive and engineering with over 26 years in leadership roles at Ferrari, including eight as CEO.
Aston Martin has also appointed Roberto Fedeli as its chief technical officer, credited with creating Ferrari LaFerrari, the Italian company’s first hybrid supercar.
The move came as the group announced increased pre-tax losses of £111.6m in Q1 compared to £42m last time on turnover up 4% to £233m.
Lawrence Stroll, Aston Martin Lagonda executive chairman, said: “Firstly, I would like to extend my thanks and appreciation for all that Tobias has achieved.
“He joined Aston Martin at a critical time for the Company and brought significant discipline to its operations.
“The benefit of these actions is clear in the improved operating performance of the Company and in our great new product launches.
“Now, there is a need for the business to enter a new phase of growth with a new leadership team and structure to ensure we deliver on our goals.”