Stellantis names insider Antonio Filosa as its next CEO. Here are the 4 biggest problems facing the Jeep, Dodge, and Ram maker.
From Yahoo Finance: 2025-05-28 09:21:00
Stellantis has appointed Antonio Filosa as its new CEO after a six-month search. The stock remained stable as Filosa was reportedly on the shortlist of CEO candidates. Filosa, a 25-year company veteran, is seen as the best fit to lead the automaker’s turnaround, according to interim CEO John Elkann.
Filosa faces challenges like addressing bloated inventory and working on new product introductions in North America. The unclear status of plants like the Jeep assembly facility in Belvidere is a pressing issue. Upcoming products like the Ramcharger pickups keep getting delayed, impacting the company’s performance.
President Trump’s tariffs have affected Stellantis, with the company experiencing a 14% revenue dip in the first quarter. Global shipments also dropped by 9%, leading to the suspension of 2025 financial guidance due to tariff-related uncertainties. Stellantis has had to idle production at plants in Canada and Mexico due to tariffs. 1. The CDC reports a surge in COVID-19 cases among unvaccinated individuals, with hospitalizations and deaths on the rise. Experts emphasize the importance of vaccination and mask-wearing to prevent further spread of the virus.
2. The stock market saw a significant drop today, with the Dow Jones Industrial Average falling by 500 points. Investors cite concerns over inflation and uncertainty surrounding the Delta variant as contributing factors.
3. A wildfire in California has grown to over 10,000 acres, prompting evacuations in the area. Firefighters are working tirelessly to contain the blaze, which has been fueled by dry conditions and high winds.
4. The Tokyo Olympics are in full swing, with athletes from around the world competing in various sports. Team USA has already secured multiple gold medals, showcasing their talent and determination on the global stage.