KEY TAKEAWAYS
- Stellantis on Wednesday appointed veteran executive Antonio Filosa as its next CEO as the Chrysler and Jeep maker grapples with tariffs and a drop in sales.
- Filosa, who has been at the company for 25 years and is currently COO, Americas, will assume his new role on June 23, the company said.
- Stellantis shares, which are down 20% this year entering Wednesday, are edging lower in premarket trading.
Stellantis (STLA) on Wednesday appointed veteran executive Antonio Filosa as its next CEO as the Chrysler and Jeep maker grapples with tariffs and a drop in sales.
Filosa, who has been at the company for 25 years and is currently COO, Americas, will assume his new role on June 23, the company said. Filosa was appointed to his current role last December and tasked with building up the U.S. business, including reducing the “excessive dealer inventory” that has plagued the automaker.
“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 of Chief Executive Officer in this next and crucial phase of Stellantis’ development,” Stellantis Executive Chairman John Elkann said.
Last month, Stellantis withdrew its full-year outlook due to “tariff-related uncertainties” and reported first-quarter revenue that fell 14% year–over-year on “lower shipment volumes, as well as unfavorable mix and pricing.”
Shares of the “Big Three” automaker, which are down 20% this year entering Wednesday, are edging lower in premarket trading.
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