NISSAN MOTOR CO LTD 
PARIS (Reuters) - Aston Martin has hired senior Nissan (>> Nissan Motor Co Ltd) executive Andy Palmer as its new boss, the British sportscar maker said on Tuesday, ending its long search for a new chief executive.
Palmer, 51, will take over as CEO "after he completes a transition period from his current employer", the carmaker said in a statement, confirming an earlier Reuters report.
Privately held Aston Martin has been without a CEO for nine months as it struggles to stay competitive with larger premium rivals and fund much-needed investments in vehicle and engine technologies.
Palmer's background and experience - including leadership of Nissan's luxury Infiniti brand - will be "instrumental in taking Aston Martin forward", the carmaker's board said in a statement.
The move adds to an exodus of Renault-Nissan executives under alliance CEO Carlos Ghosn, which began last year with Renault (>> RENAULT) second-in-command Carlos Tavares.
Like Palmer, Tavares was seen as a potential future leader and now heads French rival PSA Peugeot Citroen (>> PEUGEOT).
Nissan's Infiniti division has since lost its CEO Johan de Nysschen as well as Europe chief Fintan Knight, an Audi and Lamborghini veteran.
But Palmer's arrival at Aston may signal a turning point for James Bond's carmaker of choice, as it purchases engines from Daimler (>> Daimler AG) and regularly explores deeper cooperation with the German carmaker.
In his Nissan role, Palmer led Infiniti's cooperation with Daimler, which holds small stakes in Aston Martin as well as Renault and its Japanese alliance partner.
Palmer's departure triggered a wider reshuffle within the Renault-Nissan alliance on Tuesday.
He will be replaced at Nissan by his Renault opposite number Philippe Klein, the carmakers said, while Renault Russia chief Bruno Ancelin will fill Klein's shoes.
Ulrich Bez, Aston Martin's last CEO, stepped down after turning 70 in November 2013.
(Additional reporting by Edward Taylor in Frankfurt; Editing by Mark Potter)
By Laurence Frost
