The head of Mercedes-Benz says the Daimler-owned automaker has “mixed emotions” about the departure of Mercedes-AMG boss Tobias Moers.

Aston Martin recently announced Moers as its new CEO, with the 54-year-old set to take over from Andy Palmer.

Daimler, meanwhile, named Philipp Schiemer as new CEO of Mercedes-AMG, switching from his current position as head of Mercedes-Benz in Brazil. In addition, Jochen Hermann has been appointed as chief technical officer at the Affalterbach-based performance division.

“With Philipp Schiemer and Jochen Hermann, we will have two very experienced executives leading AMG. They will be able to take AMG’s development forward, including ensuring that electrification plays a key part in our high performance brand’s future product portfolio,” said Ola Källenius, chairman of Daimler and Mercedes-Benz.

“Tobias Moers has led the AMG brand to great success and we would like to thank him warmly for all his achievements at Daimler.

“We have mixed emotions about his departure. On the one hand we are losing a top executive, but at the same time we know that his expertise will be of great value to Aston Martin, a company with which we have a longstanding and successful partnership,” Källenius added.