Nissan’s Palmer Leaves Amid Report He’ll Become Aston Martin CEO

Sep 02, 2014 3:54 am ET

Sept. 2 (Bloomberg) -- Nissan Motor Co. executive Andy Palmer has left the Japanese carmaker amid a report that he’ll become the next chief executive officer at luxury sports car maker Aston Martin.

Philippe Klein from Renault SA will replace Palmer as chief planning officer from Sept. 15, Carlos Ghosn, CEO at both Nissan and Renault, said in a statement today. Klein, who headed product planning at Renault, will report to Ghosn.

For Klein, it’s the third time he’s been assigned to the Japanese company since Renault and Nissan formed an alliance, according to the statement. Aston Martin representatives weren’t immediately available for comment.

Nissan shares climbed 0.9 percent to close at 1,006.5 yen before the announcement. The Financial Times earlier reported Palmer’s departure to Aston Martin.

--With assistance from Chris Reiter in Berlin.