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Aston Martin CEO Andy Palmer to leave in favor of AMG chief Tobias Moers

Reports suggest an official announcement will be made on Tuesday

The luxury carmaker said in an emailed statement that it is reviewing its management team but declined to comment on Palmer's fate. Palmer and Germany's Daimler AG , which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, also declined to comment.