Laura Schwab, president of Aston Martin the Americas, the British ultraluxury brand’s largest region by sales volume, is leaving the company.
Schwab, 47, had been in her post for a little over five years, having started in October 2015. She was the first woman to hold that title at Aston Martin.
Before Aston Martin, Schwab worked at Land Rover for 14 years.
“After five years with Aston Martin, Laura Schwab has elected to leave her post as regional president, Aston Martin the Americas in order to pursue other opportunities; effective Friday, November 13,” the company said in an emailed statement to Automotive News. “Aston Martin thanks her for her service and until a permanent successor is named, Ed Moran, head of sales for the Americas, will assume the role of interim president for the Americas, reporting to Jon Pollock, head of global sales, Aston Martin Lagonda.”
Schwab’s departure occurs in what has been a tumultuous year for the automaker, which has struggled financially since going public in 2018.
In June, the automaker said it would cut up to 500 jobs, or about 20 percent of the company’s work force, as it grappled with the COVID-19 pandemic.
The change in CEO followed the addition of a new executive chairman, Canadian billionaire Lawrence Stroll, in April. Stroll has been instrumental in resetting the company’s business plan after the consortium he controls invested $656 million in the automaker in February.
Last month, Mercedes-Benz said it would increase its stake in Aston Martin to up to 20 percent from 2.6 percent as part of an expanded technology partnership between the automakers.
Production of the DBX, Aston’s crucial entry into the competitive exotic and ultraluxury SUV segment, began this summer. Deliveries of the SUV have begun in some markets. U.S. deliveries will likely begin by the end of the month, a spokesman said.
Aston Martin has 44 dealerships in its Americas region, including 36 in the U.S. The region also covers Canada, Mexico, Chile and Peru.
Schwab this week was recognized as one of the 2020 Automotive News 100 Leading Women in the North American Auto Industry.