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Investing.com -- Stellantis (NYSE:STLA) has appointed Antonio Filosa as its new Chief Executive Officer, effective June 23, following a unanimous decision by its Board of Directors.
The new CEO succeeds Carlos Tavares, who departed in December following a steep drop in profits and sales, especially in the U.S., which raised concerns over his leadership.
Filosa will also be proposed for election to the Board at an upcoming Extraordinary Shareholder Meeting. Until then, he has been granted full CEO authority to ensure a smooth transition.
The appointment follows a comprehensive internal and external search process led by Executive Chairman John Elkann.
“The Board selected Antonio Filosa to be CEO based on his proven track record of hands-on success during his more than 25 years in the automotive industry, the depth and span of his experience around the world, his unrivalled knowledge of the Company and his recognized leadership qualities,” Stellantis wrote in the announcement.
Filosa has held several key leadership roles within Stellantis, most recently as Chief Operating Officer of the Americas.
He previously led Stellantis operations in South America, where he took Fiat (BIT:STLAM) to the top market position and expanded brands like Peugeot (OTC:PUGOY), Citroen, Ram, and Jeep.
John Elkann praised the new CEO, saying, “Antonio’s deep understanding of our Company, including its people who he views as our core strength, and of our industry equip him perfectly for the role.”
Stellantis Vice Chairman Robert Peugeot added that Filosa’s leadership record “speaks for itself.”
“It is my great honor to be named the CEO of this fantastic Company,” Filosa said in his statement, emphasizing his commitment to the company’s legacy, brands, and customer focus as drivers of future success.
"We have the world’s best and most iconic brands in automotive history and an over 100-year heritage of innovation. That legacy, combined with our relentless dedication to giving our customers the products and services they love, will continue to be key to our success."