Stellantis N.V. (STLA) shares took a dip on Friday after the company revealed its plans for the future. CEO Carlos Tavares announced he will retire in early 2026, prompting the company to begin its search for a successor. A special committee led by John Elkann, chairman of the board, will oversee the process, aiming to finalize the selection by the fourth quarter of 2025.
Beyond the CEO succession, Stellantis also unveiled significant management changes, effective immediately. Doug Ostermann was appointed as the new Chief Financial Officer, replacing Natalie Knight, who is leaving the company.
The company also announced several changes to its regional leadership structure. Antonio Filosa was named North America Chief Operating Officer, in addition to his current role as CEO of the Jeep brand. This appointment follows the departure of Carlos Zarlenga, whose future position is yet to be announced.
Jean-Philippe Imparato was appointed Chief Operating Officer Enlarged Europe, adding to his responsibilities as CEO of Pro One. Uwe Hochgeschurtz, who previously held the position, is leaving the company. Gregoire Olivier was named Chief Operating Officer China, retaining his role as Liaison Officer to Leapmotor.
In further leadership shifts, Santo Ficili was appointed CEO of Maserati and Alfa Romeo, also becoming a member of the Top Executive Team. Davide Grasso’s future placement within the company is yet to be confirmed.
Stellantis is also streamlining its operations by transferring the Supply Chain organization to the Manufacturing Division. This move aims to improve the company’s commercial performance.
Commenting on these changes, John Elkann, Chairman of the Board of Directors, expressed full support for CEO Tavares and the announced restructuring. He stated that these steps will strengthen the leadership team and help restore Stellantis to industry-leading performance levels.
These leadership shifts come at a time when Stellantis faces challenges. Last week, the company recalled 129,313 Ram 1500 vehicles in the U.S. following an investigation by the National Highway Traffic Safety Administration (NHTSA). Additionally, Stellantis recently lowered its 2024 operating margin outlook to 5.5%-7%, citing North American performance issues and broader industry challenges.
Despite these challenges, Tavares emphasized the importance of adapting to the evolving automotive landscape, stating that Stellantis’ priority is to deliver clean, safe, and affordable mobility solutions.
The company’s stock (STLA) experienced a decline of 3.65% on Friday, closing at $12.82.
