Aston Martin Chooses Former Infiniti Chief Palmer as CEO

Aston Martin Lagonda Ltd. has named Andrew Palmer, 51, to be its new CEO. He will succeed Ulrich Bez, who retired last November.

Palmer is a British-born engineer who had been Nissan Motor Co.'s chief planning officer and chairman of its Infiniti luxury car brand. He will assume his new job after completing a short transition period from Nissan.

Palmer's role will be to lead Aston Martin's attempt to hike its worldwide sales to 7,000 units by 2016 from 4,200 in 2013. The company is 5% owned by Daimler AG, which acquired its stake in exchange for agreeing to supply the British carmaker with engines, electronics and other components.

Separately, Nissan has named Renault SA Executive Vice President Philippe Klein, 57, to assume Palmer's role as its chief planning officer, effective Sept. 15. He currently oversees Renault product planning.

Klein's return to Nissan will be his third tour with the company. The Renault executive was assigned to head administrative operations for Nissan's office of the CEO in 1999-2003 as Renault led Nissan's restructuring. He returned to the Japanese company in 2007 for a one-year stint managing administrative activities for Nissan's offices of the CEO and chief operating officer.