Stellantis Taps US Boss, Former CFO for Roles After CEO Exit
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Stellantis NV appointed executives including North America boss Antonio Filosa to a committee taking over from ousted CEO Carlos Tavares, as the automaker works to fill a leadership void.
The group will be headed by Chairman John Elkann and shape decisions at the company until a new CEO is found, Stellantis said Dec. 2 in a statement, confirming an earlier Bloomberg News report. Members also include purchasing chief Maxime Picat, who will oversee China and the Leapmotor International venture, and Chief Financial Officer Doug Ostermann.
Former Stellantis CFO Richard Palmer was appointed as special adviser to Elkann and will be a “sounding board” for the company’s leadership, Stellantis said.
The group is under pressure to restore decision-making at a time of significant upheaval in the industry. The maker of Jeep SUVs and Peugeot cars needs to halt a sales slide in the U.S. and tackle overcapacity in Europe, where demand for electric vehicles is waning just as Chinese manufacturers expand in the region.
Tavares
The automaker’s shares fell 6.3% in Milan on Dec. 2, after Stellantis announced Tavares’ departure late Dec. 1, confirming an earlier Bloomberg News report. The stock is down around 44% this year.
The company said it plans to name a new CEO in the first half of next year.
Tavares is leaving sooner than expected after a clash with the board over the carmaker’s future. While he had run Stellantis since it was formed in 2021 through a merger of PSA Group, parent of Peugeot and Citroën, and Fiat Chrysler, his cost-cutting push sparked pushback from unions, dealers and internal managers.
Other members of the committee include Human Resources head Xavier Chereau; Ned Curic, who becomes head of engineering, technology and software; Arnaud Deboeuf, responsible for manufacturing and supply chain, and Beatrice Foucher as head of planning.
Filosa’s role also encompasses South America, Chrysler, Dodge, Jeep, Ram and the North America design organization, including Maserati design, the company said.
Written by Albertina Torsoli, Daniele Lepido and Tommaso Ebhardt
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