Krack will replace Otmar Szafnauer, who left the team only a couple of days ago.
Up until now, Krack was leading BMW's global motorsport operations. Before that, Krack also worked as a racing engineer for Sauber and alongside drivers Sebatian Vettel, Nick Heidfeld, and Robert Kubica.
Martin Whitmarsh, CEO of Aston Martin Formula 1, explained in an interview that Krack is the perfect man for the job and will be a dynamic and modern principal.
Krack, who lives near Munich, says he is honoured and excited about this new challenge in his career.