Aston Martin had been without a chief executive for 18 months before Mr Palmer took up the post last year.
He was recruited from Nissan by the company's major shareholders, Italian private equity firm Investindustrial and Kuwait's Investment Dar and Adeem Investment.
As Mr Palmer had been part of a Nissan team that looked into buying Aston Martin three years ago, he arrived at its Warwickshire headquarters knowing what was needed.
His new plan - backed by more than £500m of fresh money - involves broadening Aston Martin's range of cars to appeal to a younger and female customer.
There will be new models and a refresh of existing ones. The company is making its first Lagonda model in 30 years. And there will be Aston Martin's first all-electric, four-wheel drive car, the DBX.