Stellantis, the French-Italian automaker behind brands such as Jeep and Peugeot, has reduced its shortlist of CEO candidates to five, sources familiar with the matter revealed. This development comes as the company prepares to appoint a new leader following the sudden departure of former CEO Carlos Tavares in December, which marked the end of a tumultuous period marked by plummeting sales and profits.
Stellantis is expected to provide further insights on the CEO search and its strategy to cope with President Donald Trump’s 25% tariffs on foreign auto imports at its annual general meeting in Amsterdam on Tuesday. Investors will be looking for an update on the hiring process and how the company plans to navigate the complex challenges ahead, including the transition to electric vehicles and its response to rising tariffs.
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Tavares’ departure left the company grappling with strained relationships with suppliers and dealers, as well as dissatisfied shareholders. On the agenda for Tuesday’s meeting will be a vote on Tavares’ final compensation package, which totals 35 million euros ($40 million) and includes a severance package and a 10 million euro bonus for meeting company milestones.
Stellantis has confirmed that it is aiming to finalize the new CEO appointment by the end of the first half of the year. The shortlist includes two internal candidates: Antonio Filosa, head of Stellantis North America, and Maxime Picat, head of procurement. In addition, three external candidates have been interviewed, though their identities remain confidential. Sources indicate that all candidates are men.
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The new CEO will face significant challenges, including the impact of the U.S. tariffs and the ongoing shift to electric vehicle production. Stellantis recently announced plans to temporarily lay off 900 workers at five U.S. facilities and halt production at one assembly plant each in Mexico and Canada in response to the tariffs.
Despite these challenges, Stellantis Chairman John Elkann and Peugeot Invest CEO Jean-Charles Douin have both expressed confidence in the progress of the CEO search, noting that the company has a strong pool of internal and external candidates.
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Stellantis’ stock has faced a steep decline, hitting an all-time low of 7.51 euros earlier this month, a sharp drop from a high of 25 euros just a year ago. The company continues to navigate an industry in transition, and investors are eagerly awaiting the next steps in its leadership transition.