Stellantis Appoints Veteran Antonio Filosa As CEO: Retail Sentiment Turns Neutral

Chrysler parent Stellantis NV (STLA) said on Wednesday that it has appointed Antonio Filosa as its new Chief Executive Officer.

Filosa was selected by a Special Committee of the Board led by Executive Chairman John Elkann after considering other internal and external candidates.

The new CEO has more than 25 years of experience in the automotive industry and joined the Fiat Group in 1999. Stellantis is the result of the 2021 merger of Fiat-Chrysler (FCA) and the French automotive company PSA.

Following the merger in 2021, Filosa was appointed the South America COO. He was most recently appointed COO for both North and South America after previously serving as CEO of the Stellantis brand Jeep.

Filosa will be granted CEO powers effective June 23. He will then announce the company’s new leadership team.

The company also said that it will hold an extraordinary shareholders’ meeting in the coming days to elect Filosa to the Board as an executive director.

Stellantis has been on the lookout for a new CEO since December after its previous chief executive, Carlos Tavares, stepped down. Last month, the company assured that the hunt for a permanent CEO would be concluded within the first half of 2025.

Chairman Elkann is currently leading the company. Once Filosa takes over as the CEO, Elkann will continue in his role as Executive Chairman of the carmaker, Stellantis said.

Filosa’s appointment comes as the company is going through a period of uncertainty. The Jeep-parent suspended its full-year financial guidance in April, citing tariff-related concerns.

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.

Separately, news agency Reuters reported on Wednesday that tech giant Amazon’s deal with Stellantis to create in-car software is winding down.

The Stellantis SmartCockpit project, announced in 2022, aimed to create a personalized in-vehicle experience through AI-enhanced applications for entertainment, Alexa-enabled voice assistance, navigation, vehicle maintenance, e-commerce marketplaces, and payment services.

On Stocktwits, retail sentiment around Stellantis fell from ‘bullish’ to ‘neutral’ territory over the past 24 hours while message volume jumped from ‘low’ to ‘normal levels.

STLA stock is trading down 1% in pre-market trading on Wednesday. The stock is down by 18% this year and by over 53% over the past 12 months.

Read Next: Triveni Engineering Surges On Q4 Beat: SEBI RA A&Y Market Research Sees Over 30% Upside Ahead

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