Stellantis appoints Americas COO Antonio Filosa as new CEO to turn around struggling company

From Yahoo Finance: 2025-05-29 06:30:00

Stellantis, the multinational automaking giant formed by the merger of Groupe PSA and Fiat Chrysler, has appointed Americas COO Antonio Filosa as its new CEO. The move comes amid challenges like strategic missteps, a tariff war, and a tough global auto market.

Under former CEO Carlos Tavares, Stellantis initially saw success with record profits, but that changed when prices were hiked during the pandemic, causing inventory issues and discontent among dealers and workers. Tavares resigned in December after a 70% drop in net profits in 2024.

Stellantis faces a tough road ahead, with a 15% drop in US sales and falling market share. The company’s exposure to a potential trade war is high due to its international footprint, with facilities in Mexico, Canada, and Europe.

Although facing pressure from tariffs, Stellantis received a potential reprieve when a federal court blocked President Trump’s plan for reciprocal tariffs on dozens of countries. However, the ruling does not impact Trump’s auto tariffs, and other ways to impose tariffs may be explored.



Read more at Yahoo Finance: Struggling Stellantis Picks Insider to Steer Turnaround Effort