Nissan boss Andy Palmer will leave the company to become the new CEO of Aston Martin.

Palmer had also been running Nissan's luxury arm, Infiniti, following the departure of its boss Johan de Nysschen to Cadillac in July. Reports suggest Palmer was Aston Martin's main target during the recruitment process, which is understood to have taken more than a year. Former Aston boss Ulrich Bez stepped down late last year.

Renault's product planning boss Philippe Klein will replace Palmer as the head of Nissan when he leaves later this month, and will report directly to Renault-Nissan boss Carlos Ghosn.

There is no indication yet of when Palmer will take up the role.