A MAJOR car manufacturer announced a new CEO amidst financial stress from increased tariffs and decreased sales.
Stellantis, the manufacturer of Jeep, Fiat, and Ram vehicles, announced its new addition to the staff, who will replace former CEO Carlos Tavares.
Car manufacturer Stellantis announced a new CEO[/caption]
Anotnio Filosa will take over as CEO for Stellantis[/caption]
Antonio Filosa, 51, will take the CEO office on June 23, the Associated Press reported.
He currently serves as Stellantis’ chief operating officer for the Americas and chief quality officer.
Filosa is replacing Tavares, who left in December 2024 under pressure from the board.
“Stellantis’s success since its creation has been rooted in a perfect alignment between the reference shareholders, the board and the CEO,” said the company’s senior independent director, Henri de Castries.
“However, in recent weeks different views have emerged which have resulted in the board and the CEO coming to today’s decision.”
The transition to Filosa as CEO returns the running of Europe’s second largest car manufacturer to Italian hands.
“[Filosa has a] deep understanding of our company, including its people, who he views as our core strength, and of our industry,” John Elkann, heir to the Fiat-founding Agnelli family and a principal shareholder in Stellantis, told the Associated Press.
Elkann will remain on the board as Filosa assumes power.
Filosa also received praise from Robert Peugot, the second-largest shareholder, who called the incoming CEO a “natural choice.”
Peugeot noted that Filosa’s leadership record and business knowledge make him a well-suited candidate for the role.
The 51-year-old, who will be 52 when he takes the office, first began working at Fiat in 1999.
He spent most of his career working in Latin America, where he worked his way up from plant manager to chief operating officer.
The company attributes Fiat’s success as the regional market leader to Filosa’s work.
He also helped increase the market share of Stellantis’ Peugeot, Citroen, Ram, and Jeep brands.
In 2024, Filosa was promoted to chief operating officer of the Americas as the company underwent restructuring due to declining sales.
Filosa told his employees that “this company in [his] blood” as he reminisced on his first job with Fiat in Spain as a paint shop quality supervisor.
I look forward to our work together and the successes this will bring going forward.
Antonio Filosa
He has a hard job ahead of him as the company continues to lag globally due to the transition to electric powertrains.
Stellantis also faces tough competition from China and shares of the company are down 27%, according to CNBC.
“I have always found strength in connecting and working closely with colleagues,” Filosa wrote in a memo to the company.
“That will be more important than ever. I look forward to our work together and the successes this will bring going forward.”
