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Andy Palmer (Photo: Aston Martin)

Nissan's Andy Palmer will become CEO of  Aston Martin, succeeding Ulrich Bez, who became non-executive chairman of the luxury sports car maker late last year.

Palmer, 51, is chief planning officer of Nissan. He will assume his new position after a transition period, Aston Martin said. The company didn't specify how long that period would be.

At Nissan, Palmer was in charge of the Japanese carmaker's corporate and product planning, program management, electric vehicles, global marketing communications, sales and IT. In addition, he served as chairman of Nissan's premium brand, Infiniti.

Aston Martin said in a statement that Palmer's broad experience "will be instrumental in taking Aston Martin forward through its most significant and ambitious period of investment to date.”

Aston Martin was sold to a group of investors by Ford Motor in 2007 for 925 million dlrs.