--Andy Palmer, chief executive of luxury car maker Aston Martin, will leave the company as part of a reorganization aimed at restoring the business, the Financial Times reports, citing two unnamed sources.

--Aston Martin is set to announce Tuesday that Mr. Palmer will be replaced by Tobias Moers, currently head of Mercedes' AMG arm, the FT reports.

--Shares in Aston Martin have declined by more than 90% since its initial public offering in 2018, as oversupply to its dealerships and poor demand for its Vantage model weighed on performance, the FT says.

Full story: https://on.ft.com/2AQgdUv

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(END) Dow Jones Newswires

May 25, 2020 02:13 ET (06:13 GMT)