Russell George MS – the Shadow Business Minister – has commented on the announcement by Aston Martin Lagonda that its President and Group Chief Executive, Dr Andy Palmer, is to be replaced. The announcement was made officially today (May 26).
Aston Martin has two assembly plants: its headquarters in Gaydon, Warwickshire, and its sister plant in St Athan in the Vale of Glamorgan. Its Welsh plant is home to the new DBX sports-crossover, and is tipped to be the home of the marque’s future range of electric vehicles.
Dr Palmer will be replaced by Tobias Moers – from Mercedes-AMG – in August. Aston Martin’s share price had reduced to 35 pence per share, compared to a launch value of £19 per share in Autumn 2018, although prices rallied after Mr Moers’ appointment was announced.
Mr George said:
“Coronavirus has had a massive impact on the retail automotive sector, with far, far fewer cars being sold across all price brackets and marques than could have been envisaged, and this came after a collapse in the Chinese market last year
“Clearly, it’s a concerning time for the entire industry, not least the hundreds of employees here in Wales at the St Athan plant, which – along with its sister plant in England – halted production in March because of Coronavirus.
“The Aston Martin facility in South Wales has received millions of pounds of taxpayers’ money, and I am looking for reassurance from the Welsh Government that it is in consultation with the brand to protect the investment it has made, and the jobs created at the plant.”
