Stellantis swaps out managers as post Tavares shakeup continues

Stellantis swaps out managers as post Tavares shakeup continues

The maker of Jeep sport utility vehicles and Fiat cars is still searching for a replacement for CEO Carlos Tavares.

Stellantis-AP
Stellantis has announced investments in Italy and the US, where it plans to produce a new mid-size pickup. (AP pic)
HOOFDDORP:
Stellantis NV announced another shakeup of its management ranks as the automaker deepens an overhaul following the ouster of CEO Carlos Tavares.

Chief engineering and technology officer Ned Curic will oversee software activities going forward in a streamlining of operations, Stellantis said today, confirming an earlier Bloomberg report.

The automaker also appointed new chiefs for the Jeep, Peugeot and DS Automobiles brands.

The moves mark further evidence of the new direction taken by Stellantis post-Tavares, who was pushed out in December after sagging sales and relentless cost-cutting soured investors and upset politicians.

The maker of Jeep sport utility vehicles (SUVs) and Fiat cars is still searching for his replacement.

Antonio Filosa, a possible candidate for the CEO role and currently COO for the Americas, will also be taking on global responsibilities for quality.

Bob Broderdorf will be heading Jeep and the company named Xavier Peugeot to lead the DS Automobiles brand.

Alain Favey, the former CEO of Europcar Mobility Group, joins Stellantis and is taking over the Peugeot brand from Linda Jackson.

Chief software officer Yves Bonnefont is stepping down, according to people familiar with the situation, who asked not to be identified discussing internal matters.

“Considered a Tavares protégé, Bonnefont was in charge of the software business responsible for delays to key new models in the US and Europe, including an all-electric Ram pickup truck,” the people said.

Chairman John Elkann, who heads a 10-member executive committee that’s currently overseeing Stellantis, has been patching relations with dealers and governments since Tavares’ ouster.

He’s also giving more power to regional executives, a change from the more centralised decision-making under Tavares.

“Elkann wants the company on the path of recovery before selecting a new CEO,” the people said.

“The appointment is expected in the second quarter, although the timing could still change,” they said.

Stellantis has in recent weeks announced investments in both Italy and the US, where it plans to produce a new mid-size pickup.

Days after Elkann met with president Donald Trump, the company recommitted to building the truck at an idled plant in Belvidere, Illinois, and bringing back 1,500 union workers.

Created in 2021 from the merger of Fiat Chrysler and France’s PSA Group, Stellantis recently managed to reduce vehicle inventories in the US, one of its most important markets.

“The manufacturer is currently rushing to bolster its offering of hybrid vehicles,” the people said.

“Richard Palmer, the former CFO who is now a special adviser to Elkann, is working closely with his boss to determine the group’s shortcomings and who may be best placed to tackle them as CEO,” the people said.

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