Luxury car maker’s CEO launches foundation for apprenticeships
Aston Martin’s chief executive Dr Andy Palmer is to launch his own charitable foundation to provide opportunities for young people to gain engineering apprenticeships.
The Palmer Foundation will also be supported by existing shareholders, members of the senior management team at Aston Martin Lagonda and his wife, Hitomi.
The luxury car manufacturer, which is headquartered in Gaydon, will float on the London Stock Exchange next month with a value of up to £5bn.
Palmer has been run Aston Martin since 2014 but he began his own automotive career as an apprentice at 16, with UK Automotive Products, and his career saw him rise through the ranks at Rover Group and Nissan. He continued to study alongside working, earning a master’s degree in product engineering from the University of Warwick in 1990, and a PhD in engineering management from Cranfield University in 2004.
“A person’s background should never preclude them from achieving their potential, and in this case becoming what could turn out to be some of the best engineers of their generation,” said Palmer.
“This is just the beginning for the Palmer Foundation. In time the engineering scholarship will be joined by other areas such as marketing, design and legal careers.”
In 2017, Palmer chaired the Productivity and Skills Commission set up by the West Midlands Combined Authority which culminated in the regional skills plan.
Apprentices and graduates at Aston Martin
The charitable foundation will operate independently of the apprenticeship scheme at Aston Martin Lagonda, which earlier this month welcomed its biggest ever intake of 50 apprentices and 26 graduates.
“Apprenticeships provide a kick-start to a young person’s chosen career,” said Palmer.
“They offer relevant experience, specialist guidance and support as the apprentices study for recognised qualifications, whilst building useful industry contacts. Vitally they can also earn while they learn.”
