Stellantis Nearing Decision On New CEO, Says Report: Retail Waits On Confirmation

Chrysler parent Stellantis NV (STLA) is nearing the end of its search for a new permanent CEO, Bloomberg News reported on Friday, citing people familiar with the matter.

Stellantis said last month that the process of appointing a new permanent CEO is “well underway” and will be concluded within the first half of 2025. The previous CEO, Carlos Tavares, stepped down in December.

The company is currently being led by Chairman John Elkann.

Bloomberg said Stellantis is nearing a final decision on the new CEO. The report said that Antonio Filosa, Stellantis’ chief operating officer (COO) for the Americas, is a leading candidate for the role, adding that the board could also choose someone else.

Filosa has been a member of Stellantis's top executive team since the company was formed in early 2021. He assumed additional responsibility as Chief Quality Officer earlier this year.

In addition to insiders, Stellantis also considered outsiders Jose Munoz and Mike Manley, Bloomberg said. While Munoz is CEO of Korean automaker Hyundai Motor Co., Manley is CEO of American dealership chain AutoNation.

A Stellantis spokesperson, however, told Bloomberg that no decision has been made regarding a new CEO.

For the first quarter (Q1), Stellantis reported net revenues of €35.8 billion ($40.66 billion), down 14% compared to Q1 2024, and below Wall Street expectations. While the drop was primarily due to lower shipment volumes, adverse regional mix and price normalization also impacted revenues, the company said.

The company suspended its full-year financial guidance in April, citing tariff-related uncertainties.

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

STLA stock is down by about 23% this year and by 55% over the past 12 months. 

Also See: ANI Pharma Reports Upbeat Q1 Earnings, Revises Full-Year Outlook: Retail’s Pleased

For updates and corrections, email newsroom[at]stocktwits[dot]com.