New Stellantis CEO Antonio Filosa aims to improve operations and boost market share.
From CNBC: 2025-06-23 09:53:00
Antonio Filosa, the new CEO of Stellantis, emphasizes the need for excellence in his first public message. Filosa, a long-time employee of the company, worked closely with the late Sergio Marchionne, who led Fiat Chrysler. Filosa faces challenges in turning around the embattled carmaker, following the abrupt resignation of previous CEO Carlos Tavares.
Filosa, a 51-year-old CEO, has quickly taken action to mend strained relationships within Stellantis. Employees and dealers were upset over layoffs and sales declines under Tavares’ leadership. The Stellantis National Dealer Council openly criticized Tavares’ decisions, calling for improvements in the company’s operations. Filosa aims to address these issues and boost market share.
Stellantis’ global sales fell under Tavares’ leadership, with a significant drop in the U.S. market. Filosa’s focus is on growing retail market share in the U.S., prioritizing sales to individual customers. New product launches, including the redesigned Jeep Cherokee and Ram 1500 pickup truck models, are expected to drive sales growth for Stellantis.
Despite Stellantis’ revenue growth since its formation, the company experienced a 17.2% decrease in revenue in 2024. This decline contrasts with increases seen by competitors like General Motors and Ford Motor. Analysts are closely watching Filosa’s leadership as he navigates the challenges facing the company and works to improve its financial performance. Antonio Filosa, appointed CEO of Stellantis, prioritizes US market growth, portfolio streamlining, and stakeholder relations. Industry insiders call his appointment a logical choice, highlighting his plant visits and leadership qualities. Filosa’s background in manufacturing and relationship-building skills have garnered praise from colleagues and analysts. Investors remain cautious as Stellantis stock fluctuates post-CEO announcement. 1. The stock market saw a sharp increase today with the S&P 500 rising 2.5% and the Nasdaq climbing 3.0%. This growth was fueled by positive earnings reports from tech giants like Apple and Amazon, as well as optimism surrounding a potential stimulus package from Congress.
2. In international news, tensions between China and India continue to escalate as both countries have deployed troops along their disputed border. This comes after a recent clash in which several soldiers were killed. The situation remains precarious as both sides remain on high alert.
3. Health officials are warning of a potential second wave of COVID-19 infections as cases continue to rise in several states across the U.S. Texas, Florida, and California have all reported record numbers of new cases, prompting fears of overwhelmed hospitals and renewed lockdown measures.
4. The Federal Reserve announced plans to keep interest rates near zero through 2022 in an effort to support the economy amidst the ongoing pandemic. Additionally, the Fed stated they would continue their bond-buying program to provide further liquidity to financial markets.
5. In sports news, the NBA has announced plans to resume its season at the end of July at Disney World in Orlando. Teams will play in a “bubble” environment to minimize the risk of COVID-19 transmission. The league hopes to crown a champion by early October.
Read more at CNBC: New Stellantis CEO Antonio Filosa faces slew of challenges on day one