We need to find a solution as soon as possible. guide for Stellantis, even before that date in June that the official note indicated after the surprise resignation of the CEO Carlos Tavares Sunday evening, due to growing disagreements with the carmaker's board of directors and major shareholders. Meanwhile, the composition of the interim executive board and the board of directors is focusing on two possible successors to Tavares: Filosa and Picat.
Another drop in Stellantis registrations in November
In stock exchange the title try the recovery with a +2,35% after yesterday's drop to 10%, while the numbers of the registrations have shown that the Stellantis group has recorded a decrease of 24,87% with a market share of 24,86% compared to 25,15% in October, based on Reuters calculations. Overall, car registrations in Italy in November amounted to 124.251 units, with a decrease of 10,82% on the same month of 2023.
Yesterday, analysts indicated that the main cause of the stock market crash was the fact that the company could remain without leadership for too long, with all the dossiers that are open to us.
The list of names narrows around Filosa and Picat
There are many names of possible candidates to occupy that seat that they have already been hypothesized. But now, as reported by Reuters, the board of directors is focusing on two possible names that have already entered the interim executive board: its head of North American operations, the Italian Antonio Filosa, and the purchasing manager Maxime Picat as internal candidates for the CEO position.
picat, 50, currently head of purchasing and supplier quality at Stellantis, previously served as chief operating officer for the Greater Europe region when the group was created in January 2021. The French civil engineer joined Peugeot maker PSA in 1998 and has held positions including managing director of the DongFeng Peugeot Citroën Automobiles (DPCA) joint venture in China.
Filosa He became chief operating officer of the group’s North American division in October, as part of a management reshuffle following a profit warning on 2024 results. He joined Fiat in 1999 and held several roles before becoming head of Fiat Chrysler in Latin America in 2018. He served as chief operating officer of Stellantis for South America before being named global head of the Jeep brand in 2023, a role he will retain.
The composition of the interim executive committee
Pending the new name, a new executive committee chaired by John Elkann. In a press release, Stellantis shared some details on this committee. It will be composed of nine other executives (in addition to Elkann), including the carmaker's new CFO Doug Ostermann, Filosa and Picat. Six other executives have been appointed as supporters of the committee who answer directly to Elkann. Richard Palmer, former CFO who was replaced by Natalie Knight in 2023, has been named special advisor to the chairman, to “act as a sounding board for the Stellantis management team.”
The other members, with their respective roles, are: Xavier Chereau (Human Resources and Heritage); Ned Curic (Engineering and Technology, Software and Free2move); Arnaud Deboeuf (Manufacturing and Supply Chain); Antonio Filosa (America's (North and South America) Regions, Chrysler, Dodge, Jeep, Ram, and Design in the North America Region, including Maserati Design); Beatrice Foucher (Planning); Jean-Philippe Imparato (Enlarged Europe, Pro One, Abarth, Alfa Romeo, Citroen, Ds, Fiat, Lancia, Opel and Peugeot. Design in the Enlarged Europe Region will report to this position); Douglas Ostermann (current CFO after Natalie Knight's departure in October, Finance); Maxime Picat (Purchasing and Supplier Quality and the Middle East & Africa, India & Asia Pacific, China regions as well as Leapmotor International); Philippe De Rovira (Affiliates). In support of the CEI and reporting directly to the President there will be the following Executive Vice Presidents: Bertrand Blasie (Communications and CSR), Olivier Bourges (Customer Experience); Giorgio Fossati (General Counsel); Santo Ficili (Maserati in addition to Alfa Romeo); Olivier Francois (Marketing in addition to Fiat, Abarth and DS) and Clara Ingen-Housz (Public Affairs).
Elkann's video to employees: the board wants to look longer term
Last evening Elkann he also wanted to reassure the minds of the employees with a video. “With Carlos we have come a long way and achieved important results. However, our Board of Directors decided, for the good of the company, that it was time to separate our paths. Many of you will wonder what is behind his early departure. The simple truth is that in recent weeks different points of view have emerged. In particular, the Board felt that the focus for our company and our stakeholders should be oriented towards the long term”.
Instead, Tavares’ plans were to quickly turn around its struggling U.S. operations, mostly by cutting costs, according to multiple sources. Stellantis has long been trying to shed overcapacity and excess inventory in its key North American market, at a time when global demand remains weak and competition from Chinese rivals, especially in electric vehicles, is intensifying. In addition to its U.S. woes, the company’s focus is on rising prices in Europe, driven by rising inflation.
Meloni hopes for a meeting on December 17
The Italian government has intervened on the issue, wanting to protect jobs and related industries in the negotiations with Stellantis and hoping that a meeting scheduled with the company on December 17 can be decisive, Prime Minister Giorgia Meloni said on Monday.
La EU Commission in the meantime he is studying, he writes The print, a plan that includes a “modulated freeze” on fines for manufacturers who do not meet the 2025 emissions targets and a different methodology for calculating emissions that allows for the use of alternative fuels.
