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Aston Martin chief quits after shares plummet

by LLB Reporter

Aston Martin Lagonda chief executive Andy Palmer has quit as the crisis has hit sales and the share price has plummeted 94% since the flotation in 2018.

Keith Stanton will step in temporarily for Palmer and Tobias Moers will take the helm on 1 August.

The board for the luxury car maker said in a statement, “The board has determined that now is the time for new leadership to deliver our plans.”

Palmer said it had been a privilege to serve Aston Martin after six years at the helm.

In the first three months of the year sales halved with loss before tax to soar by £118.9m compared to £17.3m the year before.

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