Yes, the rumours were true. Aston Martin has announced the appointment of Mercedes-AMG boss Tobias Moers as CEO, replacing Andy Palmer at the helm of the British firm.

In a statement, Aston Martin confirmed Moers will be appointed to the board as an executive director at the start of August 2020. The 54-year-old will be based at Gaydon in Warwickshire.

Moers is described by Aston as a “highly successful and experienced automotive professional” who has spent more than 25 years in senior roles at Daimler. He has been CEO of Mercedes-AMG since October 2013.

Lawrence Stroll, Aston Martin executive chairman, said the board had “determined that now is the time for new leadership to deliver our plans”.

“On behalf of the board, I would like to thank Andy for his hard work, personal commitment and dedication to Aston Martin Lagonda since 2014. In that time the company has successfully renewed its core sports car range, with the DB11, Vantage and DBS Superleggera and has brought the brand’s first SUV, DBX to a point of readiness for deliveries to start in the summer,” said Stroll.

“Furthermore, the development of the era-defining Aston Martin Valkyrie hypercar has paved the way for the mid-engined range to come. I would also like to recognise his leadership through the current challenges and uncertainties presented by COVID-19,” he said.

Stroll said Moers was “the right leader for Aston Martin Lagonda as we implement our strategy for the business to achieve its full potential”.

Moers said he was “truly excited to be joining Aston Martin Lagonda at this point of its development”.

“I have always had a passion for performance cars and relish the chance to work for this iconic brand which I was close to on the technical side at the beginning of the partnership between the two companies."

Palmer, meanwhile, said it was “a privilege to serve Aston Martin Lagonda for almost six years”.

“The launch of many new products including the new DBX demonstrates the dedication and capability of our employees. I would like to thank my management team and all the staff for their hard work and support, particularly during the challenges presented by COVID-19. I am proud of you all and it’s been an honour to work with you,” the former Nissan executive said.