Stellantis Swaps Third Ram Boss in Three Years as Sales Sink
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Stellantis NV replaced the head of its Ram and Dodge brands in the U.S. as the automaker faces pressure from falling sales and a complicated shift to electric vehicles.
Christine Feuell was appointed CEO of Ram in addition to her current responsibility as head of Chrysler, marking the third change at the truck brand’s helm since early 2021. She replaces Timothy Kuniskis, who is retiring after nearly 32 years with the group, Stellantis said in a statement May 17.
Matt McAlear was named CEO of the Dodge brand, also replacing Kuniskis in the job. Both the Ram and Dodge changes are effective June 1, Stellantis said.
The leadership overhaul comes at a complicated time for Ram, which suffered a 15% plunge in first-quarter pickup sales. The U.S. truck segment has been losing market share to compact SUVs and sedans this year as high interest rates and economic uncertainty push consumers to smaller, cheaper vehicles. Stellantis shares have shed 10% since the company warned on April 30 that slowing demand will continue to squeeze its margins in coming months.
#Stellantis announces changes in leadership team:
➡️ Chris Feuell is appointed @RamTrucks CEO in addition to her current responsibility as @Chrysler CEO.
➡️ Matt McAlear is appointed @Dodge CEO, replacing Timothy Kuniskis.
Read more: https://t.co/wSjWola5LG pic.twitter.com/4fpOBYyRIr — Stellantis (@Stellantis) May 17, 2024
Kuniskis, best known for the revival of the Dodge muscle car brand, held the Ram top job for less than a year. He had been appointed head of Ram in June last year to replace Mike Koval, who had himself become Ram brand CEO in 2021.
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Kuniskis was one of few remaining American senior executives dating back to the era of Sergio Marchionne, the former Fiat Chrysler boss. Earlier this year, Kuniskis unveiled Dodge’s plans to bring its first all-electric muscle car to market this year while still planning to give customers the option of a gas-powered engine. The brand is beginning its move toward EVs with the Charger set to be released this summer.
Stellantis was formed in 2021 through the merger of Fiat Chrysler Automobiles NV and France’s PSA Group.
