Stellantis Brand Citroën Appoints Xavier Chardon as CEO: Retail Sentiment Sours

Carmaker Stellantis NV (STLA) said on Monday that it has appointed Xavier Chardon as the new CEO of its Citroën brand, replacing Thierry Koskas.

The company said Chardon’s appointment will be effective June 2. He will report to Stellantis’ Chief Operating Officer for Enlarged Europe, Jean-Philippe Imparato.

The new CEO was part of the brand before he left to join German automaker Volkswagen, where he was most recently the Chairman of the Management Board of Volkswagen Group France.

He joined French automaker and then-Citroën parent PSA in 1994 and worked with the company until 2011. Chardon was Managing Director of Citroën France when he left the company.

A company spokesperson told Reuters that Koskas will leave Stellantis instead of moving into a different role in the company.  

Stellantis was created after the 2021 merger of Fiat-Chrysler (FCA) and PSA. The company owns 14 brands, including Jeep, Citroen, Fiat, and Peugeot.

Stellantis is looking for a new CEO after its previous chief executive, Carlos Tavares, stepped down in December. Chairman Elkann is currently leading the company.

The company said in April that the search for a new permanent CEO is expected to conclude within the first half of 2025.

On Stocktwits, retail sentiment about Stellantis fell from ‘neutral’ to ‘bearish’ territory over the past 24 hours while message volume remained unchanged at ‘low’ levels.

STLA stock was trading 1% lower in pre-market on Monday. The stock has been down by about 16% this year and has lost over half of its value in the past 12 months. 

Also See: James Hardie Q4 Earnings Preview: Demand Outlook, AZEK Deal In Focus — Retail’s Bullish

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