Stellantis Names Filosa CEO to Reverse Sales Decline

Stellantis, a prominent global automaker, has appointed Antonio Filosa as its new Chief Executive Officer. Filosa, who previously served as the head of Stellantis' North American operations, is tasked with the critical mission of reversing the company's recent decline. This strategic move underscores Stellantis' confidence in Filosa's extensive experience and leadership capabilities within the organization. The appointment comes at a pivotal moment for Stellantis, as the company seeks to navigate through challenging market conditions and regain its competitive edge.

Filosa, 51, will take the helm on June 23, following his promotion to lead the company's North American business in October of last year. His primary challenge will be to stem the decline in sales in the United States, where the automotive supply chain is being disrupted by tariffs imposed by former U.S. President Donald Trump. Additionally, Stellantis faces overcapacity issues in Europe, where deliveries remain sluggish despite the expansion of Chinese automakers offering competitively priced vehicles.

Since the departure of former CEO Carlos Tavares in December, Chairman John Elkann has been at the helm. Elkann has been working to mend relationships with dealers and assure governments of continued local production. However, the persistent low demand for new cars in Europe may complicate Filosa's task. In the United States, updating Stellantis' aging lineup is crucial to reversing a long-term sales decline. The company's shipments fell by 9% in the first quarter, largely due to a 20% drop in the North American market.

Filosa has recently begun visiting U.S. dealers and factories to improve relationships with American partners. Stellantis, which owns 14 brands including Chrysler and Dodge, was formed in 2021 through the merger of Italy's Fiat Chrysler and France's PSA Group. The company's stock has declined by 13% so far this year, reflecting the challenges it faces in the current market environment.